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Is It Time to Buy Luckin Coffee?

TheMotleyFool

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"Fool me once, shame on you. Fool me twice, shame on me."

That's a phrase super relevant to Luckin Coffee's (OTC: LKNC.Y) former, current, and potential future investors who may be considering this stock. The embattled Chinese coffeeshop chain was delisted from U.S. exchanges in June 2020 after it was discovered that previous management fabricated over $300 million in sales and inflated expenses to cover it up.

Now, the company has filed Chapter 15 bankruptcy protection and replaced its management team. For the stores it has in operation, sales are again growing at double-digit percentage rates.

Source Fool.com

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