Jim Cramer Says A Lot Of People Are Betting Against Starbucks (SBUX) CEO Brian Niccol

We recently published 16 Stocks Jim Cramer Mentioned In An Episode Where He Said OpenAI Could Beat All Big Tech Giants. Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer recently discussed.

Starbucks Corporation (NASDAQ:SBUX) is a frequent feature of Cramer’s morning show. The firm is currently in the midst of a tough turnaround spearheaded by CEO Brian Niccol. Recently, Niccol announced that Starbucks Corporation (NASDAQ:SBUX) would lay off 900 employees and close underperforming stores as part of the turnaround. Cramer discussed the turnaround in detail after it was announced. He opined that Niccol was shutting down locations that he believes don’t align with his vision of being traditional coffee houses. Cramer also defended the Starbucks Corporation (NASDAQ:SBUX) CEO and added that Niccol doesn’t “throw people under the bus,” which was one of the reasons he had held back on the layoffs. This time, he explained that some people were having a tough time finding optimism around Starbucks Corporation (NASDAQ:SBUX):

“We gotta see what happens, by the way, with Starbucks. There’s a lot of people who are betting lately against Brian, Brian Niccol. They feel like the bloom is off the rose there.”

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Disclosure: None. This article is originally published at Insider Monkey.