New Details Emerge About Luckin Coffee Short Seller's Takedown [Yahoo! Finance News]
Luckin Coffee Inc. (LK)
Last luckin coffee inc. earnings: 11/13 06:00 am
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Source: Yahoo! Finance News
New details have emerged about an anonymous short seller report on Chinese coffee chain Luckin Coffee Inc, including the potential author and the methods used,The Wall Street Journal reported.The Luckin Short Report:The e-mail suggested Luckin Coffee is engaging in fraud and cited firsthand checks of more than 1,500 individuals at 15% of Luckin's more than 4,000 stores in China, WSJ reported.The anonymous short report concluded that Luckin inflated its sales figures after analyzing and compiling firsthand accounts, customer receipts and more than 11,000 hours of video.Luckin executives acknowledged the fraud and said it relied on a few company insiders and workers.The stock wasscheduled to be delistedThe Luckin Short Report Author:The firm boasts around $2.5 billion in assets under management, most of which was made shorting Luckin's stock, the source said.It isn't known why Ma and his firm won't take credit for the anonymous short report, the Journal said.Block, Left Take Different S
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