In a recent interview on CNBC's "Last Call," former TD Ameritrade CEO Joe Moglia expressed his disapproval of Starbucks CEO Laxman Narasimhan's handling of the company's declining stock performance. Moglia's comments came in the wake of a CNBC interview where Narasimhan was questioned by "Mad Money" host Jim Cramer about the company's declining stock performance.

During the interview, Moglia voiced his strong disagreement with Narasimhan's response, stating, "I think what he said was 'the plan we have in place is actually pretty good.' You got to be on drugs to say something like that on national television." Moglia emphasized that the CEO should acknowledge that their current strategies are not yielding positive results and that changes need to be made.

Narasimhan has been facing significant challenges since assuming the role of Starbucks CEO a year ago. The company's shares have experienced a steep decline following a disappointing quarterly performance, with a global decline in comparable store sales of 4%. External factors such as adverse weather conditions and global conflicts have further impacted the company's stock performance.

Echoing Moglia's sentiment, former Starbucks CEO Howard Schultz has also called for the company to recognize its shortcomings and undertake a revamp of its operations in response to the sales decline. Starbucks, grappling with inflation, is notably struggling to attract budget-conscious consumers.

As of Monday's trading, Starbucks' stock closed at $72.90 and was trading at $72.94 in the after-hours. The company's stock performance continues to be watched closely by analysts and investors alike.

The criticism from industry experts highlights the pressing need for Starbucks to address its declining stock performance and implement effective strategies to regain investor confidence. With competition in the coffee market intensifying, it is imperative for Starbucks to adapt and make necessary operational changes to attract and retain customers.

Disclaimer: The information in this article is based on the provided context and does not include any additional information beyond what is mentioned.