Likeliest outcome for Luckin equity investors is 'wipeout': Quo Vadis Capital
Luckin Coffee Inc. LK, -18.40% stock has started trading again after more than a month, but it will have to start closing stores, says Quo Vadis Capital."Leaving aside the fraud, the figures that are available suggest that Luckin Coffee never had a viable business model," said John Zolidis, president of Quo Vadis, in comments sent to MarketWatch."The company grew too fast and acquired customers via promotional offers, without ever proving the economics.
or another party will swoop in to buy Luckin's assets prior to liquidation." Quo Vadis rates Luckin stock sell. Luckin shares plunged 35% in premarket trading, and is down nearly 89% for the year to date. The S&P 500 index SPX, -1.04% is down 9.5% for 2020 so far.
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