Jim Cramer Latest Stocks: 23 Stocks He Just Talked About

10. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders In Q3 2024: 76

Starbucks Corporation (NASDAQ:SBUX) is the largest coffee chain in the world. Its stock is down 5.2% year-to-date, and the stock might have been even lower if former Chipotle CEO Brian Niccol, who is widely credited for a turnaround at the fast food retailer, did not join Starbucks Corporation (NASDAQ:SBUX) in August. Niccol’s joining sent the stock soaring by 24.5% after it had sunk by 16% in May following a 12% same-store sales decline in Q1. Niccol battled with disgruntled workers after taking over, and Cramer commented on the conflict:

“The honeymoon is so over. People talking about weakness in India too. I do feel that now it’s going to be a stock when it was at $98, the expectations were too high. I feel that it can continue to shave lower, it’s a stock I own for the club when we talk about tomorrow at our club meeting. But it is, it had that big jump from the seventies, to, uh, really to a hundred and I think it has to give up some of that David because it frankly was just up on the strength of the man and not necessarily the fundamentals. But I still trust him to come up with a plan.

“But I do think one person can make a big difference. But the, it’s not a one quarter fix.

“Look I think that uh that there was a bonus issue. I mean look what, I think the unions, I mean haven’t belonged to a union that shut, that ruined a company. I’ve always been hesitant to say, look, you know give him a little room, give the guy a little room before you go all after him. He could make it so that everybody ends up doing well. There has to be some sacrifice when your company is doing as poorly. But if it’s that we’re not getting the big share, I think that they’re recognizing that the pie is shrinking!”