Sell SBUX by Oct 29, 2026.

The China "divestiture" isn't actually what it seems. Everyone thinks Starbucks sold their stores to Boyu Capital and walked away. In reality, they created a joint venture, sold 60% for a mix of cash and debt raised by the new JV, and kept a 40% stake worth $1.2B. The deal wasn't an exit, it's actually a leveraged bet on future growth. The gross margin improvement is interesting as well. They got tariff refunds after a Supreme Court ruling that IEEPA …