Luckin leaves bitter aftertaste, now trading below IPO price

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In the first few days following Luckin Coffee’s initial public offering, the stock chart for LK looked like a roller coaster. Now it’s looking more like a freefall.

The Chinese Coffee chain successfully completed its highly anticipated offering roughly a week ago, raising over $ 550 million after pricing at $ 17 per share, the high end of its $ 15-$ 17 per share range.

Luckin was met with a warm reception from the markets, with the stock skyrocketing roughly 20% to a greater than $ 5 billion market cap in its first day of…
Read more here: Apps – TechCrunch

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