Source: MuddyWaters Research:
Luckin coffee accused of fraud and over inflating numbers
When alibaba IPO’d I remember it’s share price dropped to $60 over the next few months. Same tactic applied, I’m not saying it’s not true. But be wary of news like this. It could be a ploy to trick people into selling while they are buying on the cheap. Do your own homework.
The timing as well - Coronavirus + Friday evening, weekend. (while Asia is sleeping) . It won’t be til Monday til we hear LK defend themselves.