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We're adding four stocks to our Bullpen, including Starbucks and Airbnb

Published Thu, Aug 4 20221:59 PM EDTUpdated Thu, Aug 4 20222:18 PM EDT

Jeff Marks @jeffmarkscnbc

We're adding four stocks to our Investing Club Bullpen, including Starbucks (SBUX) and Airbnb (ABNB). Jim Cramer announced them in Thursday's "Monthly Meeting." The Bullpen should be treated like a watch list of sorts and an outside area to perform homework and due diligence. As the baseball metaphor suggests, it consists of stocks in reserve that we might consider buying and adding to our portfolio. The Bullpen is a collection of stocks identified by the Club team as having the potential to join Jim's Charitable Trust, whose holdings serve as our portfolio. These are companies we view as high quality and will monitor outside the current portfolio. We're analyzing and looking for opportunities to buy these stocks, but there's no guarantee when, or if, we'll initiate a purchase. Also, adding a stock to the Bullpen does not necessarily mean we would buy it at the current price. Before initiating a position, we are typically waiting for either certain events to unfold — both company-specific and macro-oriented — or a more attractive entry point. The current makeup of the portfolio may also delay an initiation in order to keep it diversified. First up, Starbucks. We were in SBUX previously and made a lot of money on it. We sold in May 2021 at around $110 per share. That was near its all-time high of just over $126 in July 2021. This past May, SBUX hit a 52-week low at $68.39 and closed Wednesday at $87.27. Now we are thinking about getting back after hearing more and more about the improvements that founder and interim CEO Howard Schultz is making to the business. Keep in mind, one of the first things Schultz did when he returned as CEO was suspend the buyback. Shareholders