Starbucks Jumps As Traders Gear Up For Company Announcement
Shares of Starbucks (NASDAQ: SBUX) are surging during afternoon trade on Monday. The stock had been trading lower earlier in the day, but a statement saying that they would be making an announcement at 4:30 EST has caused buyers to snap up the shares.
At last check, SBUX was up 3.32% to $53.89. Although it is unclear what the announcement may be regarding, some are speculating that the company could announce an acquisition. In any event, traders who are buying the stock ahead of the event are speculating that it will be some sort of positive catalyst. This is hardly a guarantee.
If the announcement does not contain some sort of significant, positive news regarding Starbucks, look for shares to fall in the after hours.
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