Home / news / Luckin Coffee stock tanks 80% after discovery that COO fabricated about $310 million in sales (LK) | Markets Insider

Luckin Coffee stock tanks 80% after discovery that COO fabricated about $310 million in sales (LK) | Markets Insider

Luckin Coffee stock tanks 80% after discovery that COO fabricated about $310 million in sales (LK) | Markets Insider

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13 comments

  1. The day prior there were multiple business news outlets saying it was a great buy, then one day later, 80% loss.

  2. Gee a Chinese company lying.

  3. So it’s not just coronavirus numbers from China we shouldn’t trust, I guess.

  4. This happened yesterday

  5. The most astounding bit about this is what is said on the Chinese social media. (e.g., [https://m.weibo.cn/detail/4489768987320049](https://m.weibo.cn/detail/4489768987320049)) A dominant theme is that LK is “pride of the country” “charitable organization” “patriotic light of the nation”… because they “take money from the greedy capitalists for the masses”.

  6. It was always suspicious how LK mirrored Starbucks but in China which has a tea-drinking population, not a coffee-drinking one.

  7. That’s what happens when you do work before your morning coffee

  8. China lying … Chinese Company lying … Always was, always will be

    But Chinese companies on the US stock market when foreginers cant list their own companies or own stock in Chinese stock market is what has landed us here.

    The US needs to stop listing these uselsess Chinese companies and make sure that they track their sheets, but I’m sorry Wall Street won’t allow it … Too much money to ignore.

  9. Just watched “The China Hustle” which was mentioned in another thread about this. This fraud from china has been going on a long time.

  10. They had no Luck-in stores

  11. “Conquistador Coffee…brings new meaning to the word Vomit!”

  12. how did they fabricate sales ? I smell money laundering

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