On Monday, March 9th, 2009, at approximately 4 PM, someone out there successfully placed a buy order for 10,000 common stock shares out of Starbuck’s then existing 1,460,000,000 ownership pie. This amount of overall ownership was a drop in the bucket. It only gave some guy an ownership claim on 0.00000684931% of the Seattle-based coffee empire. This wasn’t even a large enough investment position for the management to have any idea who you are if you were to show up at the annual shareholder meeting.
But yet, there was something quite special about making an investment in Starbucks on that day. The price of the stock was only $4.15 per share.
I really have no idea what people were thinking as they discarded a company with 15% annual growth for two decades as though the stock certificates were a parasitic piece of trash. The profits of $500 million were actually … Read the rest of this article!