Starbucks Jolts Market with New Energy Drink

If you’re a Starbucks shareholder, chances are you’re a little anxious about the latest news from the company’s shareholder meeting

The java giant said it will enter the $8B energy drink market with “Refreshers”, a new line of beverages that combine fruit juice and green coffee extract.

Canned version of the drink will sell for $1.99; cafe versions are said to sell for $2.75-3.25

The developments come in sharp contrast to what investors thought Starbucks was planning – a greater emphasis on its core competency -coffee.

Earlier this month Starbucks announced plans to roll out its own single-cup home brewer called Verismo and the company expanded its partnership with Green Mountain for single serve coffee.

But the new Refreshers have triggered speculation that Starbucks is back to its old tricks – selling things like music – things its customers don’t want.

What should you make of it?

Largely the Fast Money crew isn't worried. In fact, they think Starbucks is taking a step in the right direction.

Trader Tim Seymour says, “I think it’s an exciting opportunity for Starbucks because of the distribution outlet they control.”

Trader Brian Kelly adds, “It’s a whole new execution of their strategy. I like it.”

Sara Senatore of Sanford Bernstein reminds the desk that Starbucks “revived a moribund instant coffee market with Via.”

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Trader disclosure: On Mar 21, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long CSCO; Tim Seymour is long PEP; Tim Seymour is long DELL; Tim Seymour is long IBM; Tim Seymour is long HPQ; Tim Seymour is long AAPL; Brian Kelly is long SMH; Brian Kelly is long QQQ ; Brian Kelly is long SPY CALLS; Brian Kelly is long IWM CALLS; Brian Kelly is long MEXICAN PESO; Brian Kelly is long US DOLLAR; Brian Kelly is short EWA; Brian Kelly is short EWY; Brian Kelly is short EWH; Brian Kelly is short EWY AUSSIE $; Brian Kelly is short NEW ZEALAND $; Pete Najarian is long AAPL; Pete Najarian is long AAPL CALLS; Pete Najarian is long C; Pete Najarian is long C CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long BAC CALLS; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long COP; Pete Najarian is long PEP; Pete Najarian is long HPQ; Pete Najarian is long SCCO; Josh Brown is long AAPL; Josh Brown is long JPM; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long INTC; Josh Brown is long MRO; Josh Brown is long SBUX; Josh Brown is long COP; Josh Brown is long DELL

For Sara Senatore
Bernstein currently makes a market in SBUX

For John Kronthal
Nothing to disclose

For Paul Hickey
Nothing to disclose

For Philip Verleger
Nothing to disclose with wires.