Cramer seems to think the appointment of Niccols not only justifies the $27b increase in market cap, but that the stock will continue to run up. Does anyone think the stock has overreacted and shouldn't be at this level?
I see a lot of issues that Starbucks needs to fix. They no longer are the “third space” that people go to hang out at. The stores I've looked at are all ditry and outdated, nothing like the European cafes that inspired Starbucks in the early days. Their coffee quality can't compare to local coffee shops. In major cities, the trends I see are people going local while Starbucks stores sit empty. Their food selection is terrible, which is one area that I think Niccols will be able to fix. I think long term they could still right the ship but in the short term, this just seems to be overvalued.
Cramer: Starbucks’ stock will shoot higher under incoming CEO Brian Niccol
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