Retail Stocks To Buy [Or Sell] Right Now: Luckin Coffee
Last on the list, most investors would know what happened with Luckin Coffee (LKNCY Stock Report) earlier this year. In case you haven’t been paying attention, the Luckin stock was halted after a scandal involving the company inflating its reported revenues. Eventually, LK stock was booted from the Nasdaq Exchange altogether. During the spring months, LK stocks plunged by as much as 95%. Today, the stock is only tradeable in over-the-counter markets.
Investors have been anticipating a heavy punishment against the “Starbucks Of China”. But it is reported that Chinese regulators decided to fine Luckin and a number of connected firms around $9 million. To Luckin shareholders, that is a relief to know that punishment wasn’t all that bad. There is a decent chance Luckin will be able to survive, as the outlook of the company is starting to improve.
Many analysts have become increasingly bullish on Luckin stock. While some would say the absence of “negative news” is good news in itself, some believe that the company’s strategy has really improved. Either way, with Luckin stock only trading around the $2-$4 dollar range, is LKNCY stock a top retail stock to buy under $5?
