Starbucks' market value has fallen by more than $12 billion in 20 days
The market value of the US company Starbucks has fallen by more than 12 billion dollars in 20 days after investors worried that the sales volume will decrease .
Shares fell 1 percent on the day as sales of the company's shares slowed significantly, and the company's publicly traded shares posted their biggest 12-day decline since 1992.
Thus, the market value of Starbucks decreased by more than 12 billion dollars in 20 days and fell below 110 billion dollars.
The company is also experiencing major difficulties in the US itself. On November 16, hundreds of branch employees across the country went on strike to demand better working conditions. The company's shares have lost more than 10 percent of their value since thousands of workers went on strike on Red Cup Day, which offered discounted products to its customers.
On the other hand, on the social network of the Starbucks workers' union X, "Solidarity with Palestine!" The dispute escalated when the company announced that it would appeal to the court because of the call. This decision of the company caused a number of boycotts as well as debates on social networks.
Meanwhile, Starbucks CEO Laxman Narasimhan said in a presentation at the Morgan Stanley Global Consumer and Retail Conference that sales recovery in China has not been as expected.
Analysts say the rapid growth of Chinese chain Luckin Coffee with strong demand has created competitive pressure for Starbucks in the country. At the same time, it was noted that Luckin's success in China will put the US company in a difficult position as other coffee shop chains focus on this market.
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