Yesterday you probably noticed that Starbucks (SBUX) went blasting higher. It wasn’t because of earnings. It was simply because they hired a new CEO. That news alone added $20 billion of market cap to SBUX instantly (which must make the ex-CEO feel really special).
To put that in perspective, the marginal gain from hiring one dude was equal to the entire value of the New York Times, Levi’s, the AMC Theatre chain, and a couple billion dollars in freshly printed dollar bills.
