Brian Niccol, former Chipotle CEO, appointed as Starbucks' new Chairman and CEO, effective September 9. Starbucks stock climbs 13% following Niccol's appointment, while interim CEO Rachel Ruggeri will lead until the transition.
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00:00Major breaking news. We've got your Chipotle CEO is
00:04Leaving and going to Starbucks right now. Not joking CMG CEO to depart for Starbucks
00:12Starbucks is naming Brian nickel as their chairman and chief executive officer. Wow. This is huge news
00:19There is an absolute killing of Chipotle right now and an absolute buying across the board of Starbucks here right now
00:27man those
00:29Activists they work fast here a be I know they work. Yes. They don't like games
00:35These guys had to know this
00:37This is unbelievable
00:40That's a Starboard's the smartest investors ever
00:46They just took a stake they're like it's what's gonna happen we're gonna get the Chipotle CEO give him a call right now
00:53boom
00:54Holy mackerel CMG training down nine percent eight eight point three percent moving fast here folks and start
01:02No, ten percent Chipotle's down ten percent now Wow
01:06Starbucks is up eleven percent. So everything here. This is just opposite what Chipotle goes down Starbucks goes up
01:12It looks like this is huge news
01:15So yeah, Chipotle named CEO Scott Boatwright as interim CEO following Brian Nichols departure to lead Starbucks
01:24Jack Hartung to remain as president. So I mean it looks like Chipotle still
01:30You know still gonna have some of the same guys that were helping run the company
01:34Just not this Brian Nichols guy
01:35which I mean
01:36I assume it looks like he's done a pretty good job if the market is not believable if the market the markets that worried about him
01:42leaving because I mean my my okay, so if Chipotle yesterday was a
01:4770 or an 80 billion dollar company 76 billion dollar market cap
01:51The CEO leaving makes that it makes you know brings that yeah. Yeah
01:57Why I mean they still sell them the same burritos. I don't think there's gonna be that many people out there today
02:01They're gonna say I'm not going to Chipotle today because they have a different CEO
02:08They're all they're looking is and we've said it before Chipotle has been one of the best run companies out there
02:14I mean besides the last month or two when the stock has come off here. You just look at the performance
02:20I believe he's been in there for four or five years
02:23I'm just going for it
02:24You can look it up chattel look it up, but I think he's been in there for a while there nickel
02:28And this is just huge news for Starbucks
02:32Obviously to go grab one of the best CEOs out there and Chipotle losing them
02:36So I mean this is just you know, huge news here down 8.8 percent
02:40I mean, there's always this algo, you know, boom, you know, they can't help themselves. I
02:46Don't know if I'm chasing it here
02:50I would be as opposed this might be a good spread to put on Dennis and I want you to do the
02:57Chipotle right now in short Starbucks. I'm not
03:00Okay. Well, you know what?
03:03It's blown out
03:05The other way you're crying right now. I've never really thought about paratrading Starbucks and Chipotle
03:09But here you go. One's up 10% the other ones down 10%
03:13Guy this guy Brian is gonna get people to pay five bucks for a cup of coffee
03:19Instead of ten bucks for a burrito or he's gonna lower the prices of the coffee. Maybe that's what he needs to do
03:25figure out the margins
03:29Trim the fat that feels like an overreaction to me to where I think we're all in the same boat
03:33We feel like an overreaction
03:36But Starbucks is really beat up and Chipotle is really, you know kind of hated all of a sudden
03:42You know, the stock has not been this been struggling to rally. It's had a nice rally and then boom, but Chipotle
03:47Let's just go to the technicals
03:494798 was the washout low when everything was washing out on that Monday morning. It's over 50%
03:54Yeah, well, no, but you've got support at that low 50, you know 50 area. It's not surprising that they bought it there
04:01Starbucks here popping up. I mean give us the technicals joy. You're in a gap year
04:07This is what I'm gonna do. I'm gonna say you're saying how to change
04:10I'm gonna say the key the next week or two is to CMG build a major base here between
04:1848 and 50 and people shrug this off and that it turns around like oh, this is at the end of the word
04:24We'll still CMG and for Starbucks. I mean after you get the pump that uh, oh man
04:32Fill in the gap here
04:34To
04:368766 if that's not good enough for you 8718 you haven't hit it there today
04:42I'd say this and for this to continue I'd say you got nothing but sellers from 85 to 87
04:49So if it couldn't, you know digest all those sellers all the bag holders from here all the people
04:55Oh, I'm getting I never expected this. I never expected this. I never expect
05:00$87 that's insane 48 to 50 support and we'll see if you get resistance at 85
05:06I would just not fan to Starbucks and online ordering your coffees cold, man
05:11They shut places down the ones around here not even open all the time. This guy's coming to closed stores
05:17He's coming to fire people. I mean he's coming in there. I don't think that's happening
05:23I think he's just coming into this probably. Well, we don't know what he's coming in
05:28Is we all we know is he did pretty well at Chipotle for a very long time