Starbucks Shares Surge as Elliott Investment Takes Significant Stake

Activist investor Elliott Management pushes for strategic changes amid ongoing challenges for the coffee giant.

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.