Not So Lucky: Luckin Coffee Chairman's Car Rental Shares Fall To All-Time Low [Forbes]
Luckin Coffee Inc. (LK)
Last luckin coffee inc. earnings: 11/13 06:00 am
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Source: Forbes
Reinout Schakel, chief financial officer of Luckin Coffee Inc., Charles Zhengyao Lu, chairman and ... [+] founder of Luckin Coffee Inc., and Jenny Qian Zhiya, chief executive officer of Luckin Coffee Inc., stand before ringing the opening bell during the company's initial public offering at the Nasdaq MarketSite in New York on May 17, 2019. Photographer: Victor J. Blue/Bloomberg © 2019 Bloomberg Finance LP Shares in Luckin Coffee have more than doubled since the big China coffee chain began trading on the Nasdaq last year, making it one of the country’s best-performing IPOs in the U.S. during that stretch. Aside from a pioneering digital-payment-only business model, Luckin’s rapid growth and rivalry with Starbucks have made it an attractive story for investors and journalists despite the company’s financial losses. Gains in Luckin’s stock price have vaulted its chairman Charles Zhengyao Lu into the ranks of the world’s billionaires. Shareholders in another Lu-chaired business, Car In
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