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).
![](https://slopeofhope.com/wp-content/uploads/2024/08/slopechart_SBUX-640x344.jpg)
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.
![](https://sherwoodnews.imgix.net/starbucks-ceo.png?auto=compress%2Cformat&cs=srgb&fit=max&w=3840)