Luckin Coffee has agreed to pay a 180 million dollar fine after now famously fabricating more than $300 million in retail sales and having its stock collapse and be delisted after being found out.
The OTC stock is up nearly 40% today on the news, perhaps being taken as a sign of making amends and ending further action from the SEC at least.
There's still pending class actions, a revolving door of leadership, and an unsure business model, but I'm sure there's at least some people out there who also weren't motivated to sell 90% down and just left some shares alone that this is interesting to.
Submitted December 17, 2020 at 12:20PM by ShaidarHaran2 https://ift.tt/3oY457R
