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Safety Report: Luckin Coffee 80 percent Loss
3 years ago •reported by user-kgyrj317
I got in December (2019) where I was really excited about the stock. I planned to hold it long term and keep adding. I also hold SBUX. Even after the Muddy Waters report and Coronavirus drove the stock down, I held and was still optimistic the stock would hold weight. But the minute the news broke the COO was accused of fraud and inflating revenue numbers I dumped it as soon as markets opened. It’s a shame because I really liked the business model and coffee is growing hype in China. I took an 80% loss on the sale but I’m not sorry for it one bit. It’s not worth my time and money to suffer the fallout of company leaders lying to shareholders and regulatory agencies.
Source: Reddit
Source: Reddit