Luckin Coffee Shares Slide After IPO As Analysts Question Profitability Prospects [Forbes]
Luckin Coffee Inc. (LK)
Last luckin coffee inc. earnings: 11/13 06:00 am
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Source: Forbes
Luckin Coffee Shares Slide After IPO As Analysts Question Profitability Prospects A customer collects coffee beverages from a counter at a Luckin Coffee outlet in Beijing, China (Gilles Sabrie/Bloomberg) © 2019 Bloomberg Finance LP Shares of Luckin Coffee have already fallen well below their initial public offering price just days after the company s debut on the Nasdaq, as analysts question whether the Starbucks rival has a solid plan to reach profitability and support future growth. The Xiamen-based company saw its shares open at $25 on Friday, an almost 50% jump from its IPO price of $17. But the stock has since fallen back to $14.75 still burning cash to hand out generous discounts in the face of rising competition. “ 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 ver
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