Luckin Coffee stock declines 35% after trading in stock resumes after a month

Luckin Coffee stock declines 35% after trading in stock resumes after a month

Luckin Coffee shares ended 35.8% lower on Wednesday after it resumed trading again after more than a month. Its shares have plunged ~93% for YTD. Luckin is being investigated for financial misconduct and has fired its top executives, including Qian, former CEO. The company is accused of fabricating transactions worth ~$310mn. Amid these uncertainties, Nasdaq has sent company a delisting notice.

Milan
Milan
Liam
Liam 1 weeks

"Nasdaq has sent the company a delisting notice." Oof

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