Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Jim Cramer Asks Not To Sell Starbucks Corporation (SBUX) Stock On News About COO’s Unpaid Leave

Starbucks Corporation (NASDAQ:SBUX) has announced on Thursday that it Chief Operating Officer (COO), Troy Alstead will be taking an extended unpaid leave from the company. This was a personal decision taken by Alstead to spend more time with his family. Many feared that this announcement might push many investors to sell Starbucks Corporation (NASDAQ:SBUX) shares, which in turn might cause the stock price to drop. Jim Cramer talked on CNBC about why the shareholders should not consider selling the Starbucks Corporation (NASDAQ:SBUX) stock.

Starbucks Corporation (NASDAQ:SBUX)

Cramer said that Troy Alstead is the No. 2 in Starbucks Corporation (NASDAQ:SBUX) next only to its CEO, Howard Schultz. He said that Alstead is a fabulous person when it comes to business. Cramer pointed out that Schultz is doing a lot of big things for Starbucks Corporation (NASDAQ:SBUX) and he feels that Starbucks Corporation (NASDAQ:SBUX) has a great bench strength.

Cramer said that he would never want Alstead to leave for a break from Starbucks Corporation (NASDAQ:SBUX), since he is very good at what he does for the company. He said that if someone decides to sell the Starbucks Corporation (NASDAQ:SBUX) stock due to Alstead’s decision, they are making a very short term incorrect move.

Cramer thinks that there are a lot changes coming up in Starbucks Corporation (NASDAQ:SBUX). He added that despite Alstead is taking a break from organization; the company has good bench strength to fill in during his absence. He said that due to these reasons one should not sell this stock.

“This company has a great bench, I think it’s a shame. I don’t want Troy Alstead to leave for a second, he is so great. But there is a great bench. If you selling this you are making a very short-term and incorrect move,” Cramer said.

Alstead will be going on an extended personal leave from the beginning of March. He has already spend 23 staggering years in Starbucks Corporation (NASDAQ:SBUX).

Disclosure: None

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.