Luckin Coffee, Inc. manufactures coffee and operates coffee retail stores. The firm's new retail model is built upon mobile apps and store network. The Mobile Apps: Mobile apps cover the entire customer purchase process. 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. It procures coffee machines and coffee condiments from renowned global suppliers such as Schaerer. The company was founded by Zhi Ya Qian in October 2017 and is headquartered in Fujian, China.
Unusual Options Activity on the 11/15 LK $22 Calls @ .35. Overall the $22 Calls had over 8,551 contracts in volume today. I picked up a couple contracts @ .34. Earnings pre-market tomorrow.
Looks like EPS not as bad as expected and revenues rise above expectations. trading pre-market ~ $21.87 @ 9:07
This may be a great long term bet. No here, but around 25-27 if we have visit there, I may pick some.
Congrats to all who held a position today of which I was not one. Being that it is in China and the Nasdaq deficient warning spooked me.
https://www.tradingview.com/widgete...new&utm_campaign=chart&utm_term=OTC_DLY:LKNCY Luckin is listed on OTC now as LKNCY -------------- Luckin Coffee Chairman Reportedly Ousted As Internal Probe Finds Wrongdoing 4:35 am ET July 6, 2020 (Benzinga) Print Luckin Coffee Inc. (OTC: LKNCY) Chairman Charles Zhengyao Lu was ousted from his role at the company in a shareholders meeting on Sunday, Bloomberg reported. What Happened Lu had called the "extraordinary general meeting," as he also sought removal of one of the independent members of the Luckin board, Sean Shao. According to local media sources, Shao, along with two other board members, has also been forced out, Bloomberg noted. A separate report from the Wall Street Journal said that an internal investigation of the company found that Lu knew or should have known about the $310 million securities fraud at the company. Lu also didn't fully cooperate with the investigation conducted by a special committee of Luckin's board and law firm Kirkland & Ellis LLP, the people familiar with the matter told the Journal. The probe found evidence that Lu had knowledge of some of the fabricated transactions but failed to disclose them, the Journal reported. Lu dubbed the report of the probe as "rumor" in a statement to the Journal. Price Action Luckin shares closed nearly 3.5% lower at $2.52 in the otc market on Thursday. The company's shares are in the process of getting listed from the Nasdaq Stock Market. © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. https://www.tradingview.com/widgetembed/?frameElementId=tradingview_7f64c&symbol=OTC_DLY:LKNCY&interval=1D&range=12m&hidesidetoolbar=0&symboledit=1&saveimage=1&toolbarbg=f1f3f6&details=1&calendar=1&hotlist=1&studies=[]&theme=Light&style=1&timezone=Etc/UTC&withdateranges=1&studies_overrides={}&overrides={}&enabled_features=[]&disabled_features=[]&enablepublishing=true&locale=en&no_referral_id=1&utm_source=stockaholics.net&utm_medium=widget_new&utm_campaign=chart&utm_term=OTC_DLY:LKNCY
paging moderator, unsuccessfully trying to link chart. if you get a chance to post chart that would be great. thank you.
curious george: so, what did you do, emmett? emmett: still holding. curious george: you went from being up 33% to being up 7%? emmett: yes. curious george: and how do you feel about that? emmett: it's a penny stock now, it'll move again. curious george: don't you wish you sold yesterday morning? emmett: did your mother have any children that lived?
Why I'm Buying Cruise Stocks And Luckin Coffee 2:02 pm ET October 3, 2020 (Benzinga) Print The following is excerpted from an article that originally appeared on CapitalWatch Most of us know the story of Luckin Coffee (Pink: LKNCY). In a nutshell, the company was supposed to be the "Starbucks of China" giving the American coffee giant a run for its money on the Mainland. The Beijing-based company launched in 2017 and quickly grew its stores and pick-up locations to rival Starbucks Corporation (NASDAQ: SBUX) in China. The stock exploded in popularity. And then, it just exploded. First, reports emerged in January that Luckin had fabricated its financial data, an allegation which the company, of course, denied. Then regulators launched a probe into Luckin in April and found that the company violated Chinese competition laws by inflating its operational data with false statistics to “deceive and mislead the public.” Regulators also discovered that Luckin falsely increased its 2019 profit margin and revenue by booking more than 2 billion yuan of sales through fake coupons. From January 17 to May 21, Luckin’s stock price plummeted more than 95%. Consequently, Luckin “chose’ to delist and now it trades as a penny stock on the over-the-counter market. The bitter taste of the Luckin scandal lingered in the mouths of American investors, leading to the series of China-focused legislation designed to protect investors from future accounting malefactions of such magnitude. But that was then, and this is now. On Tuesday, the stock rose 12% on news that Luckin, along with 43 fraud-friendly firms that abetted Luckin in the scandal, got hit with a 61 million yuan fine ($8.98 million). That’s right, only a little under $9 million spread across all these companies for a fraud that, according to Luckin’s own internal investigation, inflated reported revenue by 2.12 billion yuan, or around $309 million. A small price for an epic fraud. Will Luckin ever become the Starbucks of China? Who knows? But will it trade more than a little over $3 per share like it does now? I think so. Allocate an exceedingly small slice of your portfolio and roll the dice. If you make a profit over 25%, I suggest you turn in your chips; I will.