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BABA - Starbucks: The 'China Is Back U.S. Will Follow' Fallacy
Alibaba Group Holding Limited American Depositary Shares each representing one
Investment thesis
Several unjustified drivers are seemingly keeping the share price of Starbucks (SBUX) relatively buoyant. There could be a sell-off in its shares when investors admit their confidence in the beverage giant is misplaced.
Background
I frequently write on Chinese internet stocks and contribute regularly to Seeking Alpha's Chinese Internet Weekly column. Readers of my prior articles would recognize my optimistic view of the Chinese economy even when the path to recovery from the deleterious effect of the COVID-19 pandemic was far from obvious.