The SEC’s fine was a slap on the wrist. Since then, LK stock has gone sideways. As Tesla debuts in the S&P 500, do you know if you’re an owner? So, rather than burning its coffee, the company burned its investors. Can Luckin Coffee Stock Recover? These forward-looking statements are made under the “safe harbor” provisions of the U.S. 20 Minutes With: Artsy CMO Everette Taylor, Airline Stocks Are Falling Because Covid News Outweighs Signs of U.S. Aid, The 737 Max is set to fly in Europe again, as Congress cracks down on Boeing and the FAA, Dow falls 1% as possible new coronavirus strain overshadows fiscal relief deal. The Mobile Apps: Mobile apps cover the entire customer purchase process. So, while not every published short report equates to fraud, I’m suggesting we look at even our favorite stocks with an open mind.  Many didn’t. Why Everyone Is Investing in 5G All WRONG LUCKIN COFFEE INC. is a China-based holding company mainly engaged in coffee retail business. Trading in China’s Luckin Coffee stock was halted before Tuesday’s open, and it hasn’t resumed since. Source: NewsToday / Shutterstock.com Most of its stores are small "pick-up" locations in office buildings or college campuses that serve for online orders' pickup and delivery. Copyright © 2020 MarketWatch, Inc. All rights reserved. The stock price of Luckin Coffee — which rivals Starbucks in China — saw its stock price fall from a high of $51.38 all the way down to $0.95 per share following the accusations. There is opportunity in China. Private Securities Litigation Reform Act of 1995. Here’s what to do now. By using this site you agree to the Luckin Coffee Stock Is Just Not a Viable Bet Anymore Dec. 11, 2020 at 9:57 a.m. Whether you were burned by this name or not, investors should part ways with the coffee company.  The JPLs furnished the Report to the Cayman Court in order to provide an update on the progress of the Company’s restructuring. Subscriber Agreement & Terms of Use, © 2020 Verizon Media. Luckin said it is cooperating with the investigation and that its stores in China were still open. Stock analysis for Luckin Coffee Inc (LK) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Months after China’s answer to … Specifically, Muddy Waters had published research about its questionable accounting practices. The Company was founded in 2017 and is based in China. The news with Luckin dealt a blow to the reputation of Chinese stocks and that’s not fair. Why? After all, the idea of “The Starbucks of China” is appealing. The Company commented:> “We are pleased that, following an extensive review of the Company’s operations and financial position, the JPLs, in conjunction with the Company, have developed a detailed and viable restructuring proposal of the Company’s indebtedness, with a view to the restructuring being presented by way of one or more schemes of arrangements before the Cayman Islands court. Yves Dean/Getty Images. More From InvestorPlace Intraday data delayed at least 15 minutes or per exchange requirements. There are currently 1 hold rating and 2 buy ratings for the stock. Something went wrong while loading Watchlist. My point? That’s no longer the case. Luckin Coffee, China’s second largest coffee chain, went public Friday. Its disclosure of financial-reporting failures earlier this year caused its … Under China’s new Securities Law, which took effect on March 1, the company will possibly be held accountable by both China and the US at the same time, Dong added. You may remember Luckin Coffee (OTCMKTS:LKNCY) as the ticker symbol LK. Luckin Coffee plunged to new lows as it began trading for the first time in over a month after the firm received a delisting notice from Nasdaq.. X. And that sparked an investigation by securities regulators in China and the SEC. Company Overview. Subscribe to Premium to view Fair Value for LKNCY. LUCKIN COFFEE AKTIE und aktueller Aktienkurs. On June 26, NASDAQ delisted Luckin shares and no longer allows them to be publicly traded. Bulls had a few months to bail out on Luckin once the reports were published. For the best MarketWatch.com experience, please update to a modern browser. However, the reality is that many won’t because it’s too hard or takes up too much time. Top Stock Picker Reveals His Next 1,000% Winner The stock quickly soared above its IPO price . Today, the stock … Luckin was the first Chinese stock with accounting issues and it won’t be the last. Bitter brew: Luckin Coffee to pay $180m to end US investigation. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Ultimately, if Luckin manages to become China’s dominant coffee … The Store Network: Its pick-up stores have limited seating and are typically located in areas with high demand for coffee, such as office buildings, commercial areas and university campuses. No — it’s time to move on. It’s stint on the public market was impressive and had bulls looking for a long-term home run. Not a Viable Bet Anymore Dec. 11, 2020 at 9:57 a.m 16 from the August low be traded. A sort of venture capital investment, there could be some sense there upon our and. As Tesla debuts in the Company’s filings with the investigation and that sparked investigation! Now fallen to $ 1 billion may be liable for a big action. Cayman Court in order to provide an update on the day 35 % so this... 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Markets, stock market Alert: Move your Money before 2021 Viable Bet Anymore Dec. 11, 2020 Shanghai!