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LK Stock Dives 15% Further on Another Delisting Notice

  • Leader
    July 6, 2020

    Luckin Coffee (NASDAQ:LK) news concerning a new delisting notice from the Nasdaq has LK stock falling hard on Tuesday.To get more luckin coffee stock news, you can visit shine news official website.

    Luckin Coffee News: LK Stock Dives 15% Further on Another Delisting Notice
    The delisting notice from the Nasdaq has to do with the company’s Form 20-F for the year ended on Dec. 31, 2019. Luckin Coffee says it hasn’t been able to file the form due to the novel coronavirus and an internal investigation over fraud.

    It’s worth pointing out that this isn’t the only Luckin Coffee news the company has to worry about. It also received a similar delisting notice late last week. That notice warned that the company could face delisting over issues surrounding its fraud.

    Luckin Coffee notes that its planning for a hearing with the Nasdaq in an effort to avoid delisting. However, the Chinese coffee company may have trouble making its case if it can’t file its Form 20-F in time.

    To be fair to LK stock, there could still be time for it to turn around. While all the troubles it faces do paint it in a negative light, it could see a massive amount of growth over the next few years. Granted, that means it has to make it past all the current drama and avoid bankruptcy.

    Luckin Coffee has been on a wild ride since the fraud news came out. Since then, it’s had to fire company leaders, saw its stock halt trading, and then experienced major increases after returning to markets. It’ll be interesting to see where LK stock stands after the Nasdaq delisting hearing comes to an end.

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