Shares closed Wednesday down 35.8%.
As of January 2020, it managed 4,507 stores and exceeded the number of Starbucks stores in China. The stock is down 38% in early trading on Wednesday. Luckin Coffee Inc. stock slumped 32% after it started trading again after more than a month, and Quo Vadis Capital thinks the stock will keep sinking. High-flying coffee house company Luckin Coffee (NASDAQ: LK) is once again trading on the Nasdaq, after the stock had been halted for over six weeks.Shares of the incredible growth stock came crashing down when it was revealed in April that company insiders had engaged in massive fraud in reporting the company’s numbers.. Luckin last reported $200 million in revenue in its most recent … (Bloomberg Opinion) -- Investors in Luckin Coffee Inc., China’s upstart rival to Starbucks Corp., should have seen this coming.Luckin shares plunged as much as 81% in U.S. trading … Luckin Coffee's store count of 3,680 at the end of September -- a number the preliminary audit isn't disputing -- was more than triple the number of outlets it had available a year earlier. The Motley Fool owns shares of and recommends Luckin Coffee Inc.
Based on current information, it seems likely that Luckin Coffee stock will trade again at some point. The stock continues to head lower in early trading. With the trading halt having lasted for the remainder of the week, the question many people are asking is whether they'll ever see Luckin Coffee's stock trade on the public markets again.
Luckin’s American depositary receipts (ticker: LK) were trading at $2.85 Wednesday morning, tumbling by 35% from their closing price of $4.39 on April 6 before trading was suspended by Nasdaq.
Despite facing a delisting, Luckin Coffee shares began trading again last month - and not unlike other major public companies swirling the drain, 2020's bizzaro rules aren't just keeping shares afloat, now, Luckin stock is going up. Based on current information, it seems likely that Luckin Coffee stock will trade again at some point.
Most of its stores are small "pick-up" locations in office buildings or college campuses that serve for online orders' pickup and delivery.
Shares of Luckin Coffee resumed trading Wednesday after being halted for six weeks. Taylor Carmichael has no position in any of the stocks mentioned. The stock is down 38% in early trading on Wednesday. Trading stopped on March 26 and was scheduled to resume on April 9, but news sources didn’t report any trading activity that day, either. Last week the board fired Luckin's CEO, Jenny Qian, as well as the COO. Luckin Coffee Inc. LK, -14.72% stock has started trading again after more than a month, but it will have to start closing stores, says Quo Vadis Capital. Luckin Coffee Inc. (Chinese: 瑞幸咖啡; pinyin: Ruìxìng Kāfēi) is a Chinese coffee company and coffeehouse chain.It was founded in Beijing in 2017. Trading stopped on March 26 and was scheduled to resume on April 9, but news sources didn’t report any trading activity that day, either. With the trading halt having lasted for the remainder of the week, the question many people are asking is whether they'll ever see Luckin Coffee's stock trade on the public markets again.
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