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.
Under the revised Securities Law of China, regulators may have some ability to investigate Luckin, which disclosed wide-scale sales revenue fraud.
Ele.me is criticized for its treatment of the family of a deliveryman who died on the job. The US may ban American investors from Alibaba and Tencent.
The astounding fraud admission from beverage chain Luckin has put more US-listed Chinese companies in regulator and short-seller crosshairs.
Members get it for free. Start your free trial now! Luckin Coffee has been one of the most exciting companies to watch over the past few years. Alibaba and Meituan were burning cash to lock down domination in offline services. Then along comes an F&B company that reimagines what foodservice in China could look like. […]
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.
Last week, the state market regulator fined Luckin and the companies that assisted its sales fraud. New Chinese brands are attracting investor attention.
Trip.com would use Car Inc. to expand their own car rental business.
Who is Luckin chairman Charles Lu, and why is he still running the show after the company admitted to major revenue fraud?