Starbucks experienced a significant drop in its stock value, plunging 17% after missing its second-quarter earnings estimates, marking its biggest one-day drop since March 2020. CEO Laxman Narasimhan attributed the disappointing results to three key headwinds but did not specify them in detail. Despite strong Mobile Order & Pay sales, Starbucks saw a mid-teens percent decrease in order completion rates within this channel. Additionally, there was a severe drop-off in loyalty membership, prompting the company to develop an action plan to regain customers, although details of the plan were not disclosed. This performance has led to Starbucks being on track for its biggest loss in 24 years.