Inside a Luckin Coffee shop in Beijing. Photo: Kyodo Inside a Luckin Coffee shop in Beijing. Photo: Kyodo
Inside a Luckin Coffee shop in Beijing. Photo: Kyodo

Luckin Coffee, China’s Starbucks wannabe, sees Nasdaq stock plunge as executive is suspended for making up sales figures

  • The company’s turnover was inflated by about 2.2 billion yuan (US$309 million) between the second quarter and the fourth quarter of 2019, Luckin said
  • Shares plummeted to a record low, 68 per cent below its initial offering price last May

Topic |   Stocks
Inside a Luckin Coffee shop in Beijing. Photo: Kyodo Inside a Luckin Coffee shop in Beijing. Photo: Kyodo
Inside a Luckin Coffee shop in Beijing. Photo: Kyodo
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