Overview

• Starbucks stock jumped nearly 7% following reports of Elliott Management's sizable stake.
• Elliott is known for pushing for changes in struggling companies to boost stock prices.
• Starbucks has faced criticism over long wait times and declining same-store sales.
• CEO Laxman Narasimhan has been under pressure due to the company's recent performance.
• Labor union efforts and internal leadership changes have added to Starbucks' challenges.