While most investments have tumbled badly due to the novel coronavirus pandemic, a few like Starbucks (NASDAQ:SBUX) are notable for their uniquely frustrating journey.
Back in summer 2019, SBUX stock closed at a record high. However, when it became apparent that the U.S.-China trade war would worsen, shares quickly stumbled. Yet cooler heads prevailed as the two sides hashed out a phase one trade deal, and unsurprisingly, SBUX started moving higher.
Unfortunately, the coronavirus had other plans. At first, the outbreak was limited to within China’s borders. But that was only good news for companies not exposed to the world’s second-biggest economy.