Luckin Coffee craters 45% after month-long trading halt as traders sell ahead of stock delisting
crated as much as 45% on Wednesday after a weeks-long trading halt on the stock was lifted.
Luckin stock was originally halted on April 7 after it announced that senior executives fabricated as much as 2.2 billion yuan in sales last year. The company recently fired its CEO and chief operating officer, citing fraud.from the Nasdaq exchange. The exchange's staff cited"public interest concerns" surrounding the accounting discrepancies, as well as past failure to disclose critical information, for its delisting recommendation.
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Nasdaq informs China's Luckin Coffee it plans to delist itLuckin Coffee Inc said on Tuesday that Nasdaq Inc has given it notice that it plans to delist it from the U.S. stock exchange a month after the Chinese coffee chain disclosed that some of its employees fabricated sales accounts.
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Nasdaq Moves to Delist China’s Luckin CoffeeLuckin, an upstart rival to Starbucks in China, said in a regulatory filing Tuesday that it received a written notice from the exchange’s listing qualification staff, who have determined that its shares should be delisted.
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Nasdaq tells Luckin Coffee of plans to delist the stock after sales fraudThe Nasdaq Exchange has told Luckin Coffee that it will delist the stock after the company disclosed that its former chief operating officer fabricated sales in 2019.
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Luckin scandal ripple effect prompts chairman-backed firm to seek cash: sourcesA company linked to China's scandal-hit Luckin Coffee Inc is seeking fresh capital, sources said, highlighting the ripple effect of Luckin's fabricated transactions as the chairman of both firms scrambles to avoid a cash crunch.
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The Nasdaq exchange aims to delist Luckin Coffee after employees falsified $310 million in sales | Markets InsiderThe Nasdaq exchange's listing qualifications staff said Tuesday that Luckin Coffee shares should be delisted, according to a regulatory filing.&...
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Luckin Coffee began trading again, but it will have to close stores and investors will be 'wiped out,' says Quo VadisLuckin Coffee Inc. undefined stock has started trading again after more than a month, but it will have to start closing stores, says Quo Vadis Capital....
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