Cramer's Morning Take: Starbucks 12/6/23

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Jim Cramer (0:31)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club morning meeting.

Jeff Marks (0:37)

I want to actually switch to Starbucks because that stock working on 12 straight days of losses into today, hoping to break that cycle today. But you did have the CEO, Laxman Narasimhan, admit that the recovery in China right now is at about half the pace as one would expect coming out of the fourth quarter last year. I mean, I view this as, okay, the stock was down so many days in a row. Now that we finally have the confession that there is some bad news, maybe we can start to see the stock start to stabilize because all of the sellers who have been selling for the last couple of days of last week and change, well, they finally, the market now knows the bad news. So curious to see if they start buying here.

Jim Cramer (1:25)

Well, you know, look, this is a great point. There was a messaging problem here. If you go back to the last quarter, the stock had a rocket and the rocket was China's going to come back. US is looking good. I think that Lux Manar Simon did, let's just say, somewhat ill advisedly talked too positively about China. Now, one of the things that they're saying is, hey, listen, you don't have to worry. It's going to be fine. You know what my wife often says, the worst thing you can ever say to someone is, you don't have to worry, because that means you better start worrying. Now, fortunately, at 107 was when you should start worrying. Down here, the people who are worried, 95, they're the people who were late to the party. I'm a buyer here, but I am, I'm in wake up call mode. I did not feel as underconfident as I should have, given the fact that I was lulled into thinking that China was already coming back hard.

And we should have known from Estee Lauder, we should have known from, actually, a lot of the industrials that are there, that China's not good.

It was too revelatory, and I think that the messaging better be more clear next time.

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