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Starbucks Stock Rallies as Coffee Prices Plummet

From www.investopedia.com

Starbucks Corporation (SBUX) shares rose more than 1.2% on Wednesday morning to key resistance levels. Lower coffee prices and higher selling prices have helped the stock rally higher over the past three months. Coffee futures fell below $100.00 per pound to multi-year lows earlier this month. At the same time, Starbucks increased the price of a tall coffee at nearly 8,000 of its locations by 10 cents to 20 cents in June. These dynamics promise to bolster the company’s profit margins moving forward.

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