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Stock impact report

China's Luckin Coffee Still Has Much To Prove After Its Richly Valued IPO [Forbes]

Luckin Coffee Inc. (LK) 
Last luckin coffee inc. earnings: 11/13 06:00 am Check Earnings Report
Company Research Source: Forbes
China's Luckin Coffee Still Has Much To Prove After Its Richly Valued IPO A customer collects coffee beverages from a counter at a Luckin Coffee outlet in Beijing, China. (Gilles Sabrie/Bloomberg) © 2019 Bloomberg Finance LP China’s Luckin Coffee has raised $561 million in its initial public offering on the Nasdaq, but analysts question whether the company has a solid plan to reach profitability and support its future growth. The Xiamen-based company has sold “Right now investors look at the company and they see growth, and that looks exciting,” says Ben Cavender, director of Shanghai-based consultancy China Market Research Group (CMR). “The thing is, if your only continuous path to growth is spending at this rate, it is very difficult to make a profit.” A big chunk of Luckin’s aggressive spending comes from heavy discounts. To win customers from Starbucks, the company subsidizes its coffee products through promotions like "buy one and get two for free." It also caters to consumer’s d Show less Read more
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