The Olympics may have been delayed, but we saw a gold medal dive from Luckin Coffee’s shares. Its fraud is a cautionary tale—but about what?
Chinese beverage chain Luckin Coffee replaced founder and former chairman Charles Lu with its acting CEO, Guo Jinyi.
Embattled coffee chain Luckin disclosed that it had received a second delisting notice from Nasdaq, less than a month after the first.
Luckin may be kicked off Nasdaq over fraud admission as board seeks to rein in shady listings. Delisting would put Luckin in the company of penny stocks.
Michael, and the hosts, have been bearish on Luckin for quite some time.
Luckin apologized to its employees for the upheaval following its fraud admission in early April, and on the same day removed its CEO and COO.
Trip.com would use Car Inc. to expand their own car rental business.
The CEO, COO, and many other employees of China coffee chain Luckin Coffee have been fired after the company admitted to accounting fraud in April.
‘If there’s anything to be learned about Luckin Coffee, it’s that there’s always more than meets the eye.’ Luckin skeptic Michael Norris has more questions.
Charles Lu may still face a shareholder vote on to remove him as a director during an extraordinary general meeting to be held on Sunday.