Why Starbucks Stock Turned Bitter on Wednesday

Tepid results and slashed guidance sent the coffee purveyor into a tailspin.Starbucks (SBUX -16.00%) investors are having their worst day in more than four years. Shares of the coffee chain slumped as much as 17.4% Wednesday, marking the stock's worst decline since early 2020. As of 1:07 p.m. ET, shares were still down roughly 17.4%.The catalyst that sent the coffee purveyor sharply lower was disappointing quarterly results, which caused the company to slash its full-year guidance.Misreading the marketFor t ...