Luck running out for Luckin as share prices fall

BY CHINA DAILY Shares in Luckin Coffee, Starbuck’s Chinese rival, fell below their initial public offering price on Wednesday, just days after its debut on the Nasdaq, triggering concerns over its profitability and long-term growth. Luckin Coffee shares closed at $14.75 on Wednesday, much lower than its IPO price of $17 per share. It has dropped by 40 percent from its peak listing price, when … Continue reading Luck running out for Luckin as share prices fall