Stock Pick: Better 'Latte' Than Never
Mark Travis is going to Starbucks. The CEO of Intrepid Capital Funds says it's probably time to take advantage of the coffee titan's recent misfortunes.
Starbucks made headlines this summer by announcing it would close hundreds of its under-performing stores, and Travis notes that that's not the first time that's happened.
"To me, Starbucks is a little like McDonald's maybe two years back, when they decided to slow their same-store growth, build their cash balances, and just grow organically from what they had," he told CNBC.
"Best I can tell, people still drive in [to Starbucks stores] and like their latte every morning."
Disclosure information was not available for Travis or his company.