37.94 -2.11 (-5.27%)
Pre-market: 5:01AM EST
|Bid||37.65 x 800|
|Ask||0.00 x 2900|
|Day's range||39.23 - 40.73|
|52-week range||13.71 - 51.38|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||12 Nov 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||49.18|
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Luckin Coffee Inc. ("Luckin Coffee" or the "Company") (NASDAQ:LK) of the April 13, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Luckin Coffee Inc. (LK)
Investor Interested in Securities Class Action Against Luckin Coffee Encouraged to Contact Scott+Scott
Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Luckin Coffee Inc. (LK) Investors
INVESTOR ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Luckin Coffee Inc.
INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Luckin Coffee Inc. (LK) Investors
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Luckin Coffee Inc. ("Luckin" or the "Company") (NASDAQ:LK) securities during the period from November 13, 2019 through January 31, 2020. Investors have until April 13, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Shareholder rights law firm Robbins LLP announces that a purchaser of Luckin Coffee Inc. (NASDAQ: LK) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between November 13, 2019 and January 31, 2020. Luckin Coffee engages in the retail sale of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China.
INVESTOR ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Luckin Coffee Inc.
Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Luckin Coffee Inc. ("Luckin" or the "Company") (NASDAQ: LK) between November 13, 2019, and January 31, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Luckin Coffee Inc. (NASDAQ: LK) between November 13, 2019 and January 31, 2020, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Luckin investors under the federal securities laws.
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Luckin Coffee, Inc. (NASDAQ: LK) securities between November 13, 2019 and January 31, 2020 (the "Class Period"). Investors have until April 13, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
China-based Luckin Coffee Inc's shares could double in price after it overcomes the negative impact of the coronavirus outbreak and a widely publicized bearish bet against its stock, according to Andrew Left, managing partner at hedge fund Citron Capital. Better known for his short bets, Left, who is also editor of the online investment newsletter Citron Research, has come out in defense of Luckin’s stock, which his fund owns. Luckin was forced to temporarily close an estimated 200 coffee shops in Wuhan, capital of the Hubei province in China and epicenter of the deadly virus outbreak.
INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Luckin Coffee Inc.
The law firm of Kirby McInerney LLP is investigating potential claims against Luckin Coffee Inc. ("Luckin" or the "Company") (NASDAQ: LK). This investigation concerns whether Luckin has violated federal securities laws and/or engaged in other unlawful business practices.
(Bloomberg Opinion) -- China’s Luckin Coffee Inc. hasn’t been having much luck lately. The last thing a retail business in the middle of a breakneck expansion needs is a deadly virus that keeps consumers off the streets and away from malls. What could be more damaging? Perhaps an attack by short-sellers branding your business a fraud.Shares in Nasdaq-listed Luckin Coffee plummeted 11% Friday after Carson Block’s Muddy Waters Capital tweeted that it has a short on the stock, citing an unattributed 89-page report it had received that alleged the chain has accounting issues and a broken business model. It could have been worse. Luckin shares were down as much as 27% before rival short-selling firm Citron Research defended the company, saying it was long the stock and the coffee chain’s business in China was “on fire.” Luckin called the allegations “misleading and false” in a filing Monday. Its shares closed 3.5% lower.Whatever the merits or otherwise of the anonymous report — which Muddy Waters said it found credible and Andrew Left’s Citron said would “fall short on accuracy” — Luckin faces serious challenges from the coronavirus, which has caused some cities in China to impose travel restrictions, manufacturers to halt output and the government to extend the Lunar New Year holiday. At the same time, the coffee chain has a couple of key advantages that should enable it to ride out the disruption.First is its delivery model. Unlike Starbucks Corp., which prides itself on its cozy seating areas, Luckin mostly sells coffee for consumption outside. As of the end of June, 2,741 of 2,963 outlets were “pick-up stores.” Just 123 were so-called relax stores where buyers drink on the premises, and the rest were delivery kitchens.In an environment where authorities are telling people to stay at home to avoid spreading the virus, such a business may prove more resilient than one like Starbucks, which sells coffee partly as a social experience. Seattle-based Starbucks has closed more than half its 4,292 outlets(6) in China because of the viral outbreak. Luckin, which overtook Starbucks with 4,500 stores across the country by the end of last year, hasn’t given comparable figures.Second is Luckin’s financial position. Founded less than three years ago, the company has been expanding at a furious pace, almost quadrupling its number of stores from 1,189 in the third quarter of 2018. Such a rapid build-out is financially draining — especially when the company has a strategy of sacrificing profits by offering discounts to lure customers. That makes Luckin’s January fundraising look particularly fortuitous.The coffee chain raised a combined $778 million from an additional share sale and a convertible bond offering, more than the $645 million it took in from its May initial public offering. It sold shares at $42 each. The stock reached a high of $50.02 on Jan. 17, almost triple the IPO price, and has since dropped more than a third to close at $32.49 on Friday.The opportunely timed sale gives Luckin a war chest to survive the hit to consumption from the virus epidemic, which if it follows the same trajectory as the severe acute respiratory syndrome outbreak should be contained by summer.To be sure, there are longer-term concerns hovering over Luckin, particularly the sustainability of a business model that appears to rest largely on offering near-permanent discounts. While the advertised price of Luckin’s coffees is from $3.50 to $4 each, most customers pay as much as 50% less in practice. When the company started selling tea in July, it drew business with a “buy 10 get 10 free” promotion. Luckin’s third-quarter loss widened to 484.9 million yuan ($69 million) from 531.9 million yuan a year earlier.For the time being, though, Luckin looks safe. (Adds Luckin’s statement in the second paragraph.)(1) As of the end of last year.To contact the author of this story: Nisha Gopalan at email@example.comTo contact the editor responsible for this story: Matthew Brooker at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Luckin Coffee, Inc. (NASDAQ: LK) on behalf of Luckin stockholders. Our investigation concerns whether Luckin has violated the federal securities laws and/or engaged in other unlawful business practices.
The Law Offices of Frank R. Cruz announces an investigation on behalf of Luckin Coffee Inc. ("Luckin Coffee" or the "Company") (NASDAQ: LK) investors concerning the Company and its officers’ possible violations of federal securities laws.
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Luckin Coffee Inc. (NASDAQ: LK) resulting from allegations that Luckin may have issued materially misleading business information to the investing public.
INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Luckin Coffee Inc. Investors
(Bloomberg) -- The Chinese challenger to Starbucks Corp. has found itself in the middle of an unusual debate between two outspoken short-sellers.Luckin Coffee Inc. sank as much as 27% on Friday when Muddy Waters Capital tweeted that it has a short on the stock after it received an unattributed 89-page report that alleges accounting issues and a broken business model. Less than two hours later, Citron Research defended the coffee chain in a tweet of its own.Muddy Waters, founded by Carson Block, said that while the report was written by an anonymous author, the work appears “credible.” Andrew Left’s Citron Research also received the report but said the findings don’t mesh with recent data indicating that Luckin’s business is “on fire” in China. Citron is long the stock.A U.S. spokesperson for Luckin didn’t immediately respond to a request for comment from Bloomberg. Before Muddy Waters announced its short position, the shares had already lost nearly a third of their value since the outbreak of coronavirus in China. Luckin operated about 4,500 stores at year-end amid a whirlwind expansion in China, where the company hopes to upset Starbucks’ dominance. The stock is still up more than 80% since its initial public offering last May.Short interest accounts for 29% of Luckin’s available shares, according to financial analytics firm S3 Partners.To contact the reporters on this story: Joshua Fineman in New York at email@example.com;Yueqi Yang in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Catherine Larkin at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Luckin Coffee Inc.