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Starbucks Continues to Fall

In my free e-letter from two weeks ago, I listed 23 Stocks to Sell. One of the stocks was Starbucks (SBUX), and the shares have been in the dumper ever since. In the last three weeks, shares of SBUX are down over 18%.

The Seattle Times reports:

Starbucks shares sank to a 52-week low Monday and is flirting with a five-year low as investors continue to digest last week's news that the company will close 600 of its least profitable U.S. stores.

The stock dropped 61 cents, or 3.9 percent, to $14.95. The overall Nasdaq market fell just 0.09 percent on Monday.

It is the first time Starbucks has traded below $15 since late 2003, when it had 7,225 stores worldwide. Now the company has more than 16,225 shops, including more than 11,400 in the U.S.

The stock is currently rated a "D - Sell" in PortfolioGrader Pro.