Starbucks lost $11 billion in market value, not due to boycotts.

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Starbucks is worth billions less. People online want to boycott Starbucks. Whether these two items are related is unclear.  

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There's little doubt that Seattle's coffee company is struggling as the year winds down. Since mid-November, its share price has fallen by 9%, reducing its market valuation by $11 billion.  

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“Starbucks’s stock is experiencing a historic losing streak, influenced by a confluence of factors,” stated CFRA Research equity analyst Siye Desta via email.  

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Third-party data implies its foot traffic and sales may be below Wall Street projections. Sales are expanding, but not as fast as investors expected.  

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Starbucks has been criticized for its treatment of unionizing workers, many of whom walked off the job on Red Cup Day in November.  

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After the union's pro-Palestine tweet, right- and left-wing boycott calls landed it in the crosshairs of the Israel-Hamas war, though analysts say it's hard to know how these calls are affecting the business or its stock price.  

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“I don’t think it’s the protests that are driving this,” said Bank of America senior research analyst Sara Senatore. She noted that boycotts did not coincide with foot traffic reductions.

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Starbucks has a history of controversy. “We’ve seen this kind of activity before, so it’s hard to conclude that’s why traffic has been so slow.”  

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