This Growth Stock Is a Once-In-a-Decade Buying Opportunity
Up by a massive 120% year to date, Luckin Coffee (OTC: LKNC.Y) is trouncing the S&P 500 index, which has fallen 15% in the same period. Despite continued uncertainty in China, Luckin's business is booming on all cylinders. With an updated business model and fair valuation, the company and its latest bull run could be just getting started.
Hitting U.S. markets in 2019, Luckin Coffee was a Wall Street darling until its previous management fabricated $310 million worth of sales that same year. The fraud led to a domino effect that saw the company delisted from the NASDAQ and declaring Chapter 15 bankruptcy to reorganize its obligations. It emerged from restructuring in April 2022.
However, throughout this challenging process, Luckin never stopped growing and improving its business. The results of that commitment shine through in its impressive third-quarter earnings.
Source Fool.com
