Why Luckin Coffee Stock Plunged Today
Shares of Luckin Coffee (NASDAQ: LK) were tumbling again today as the stock continues to slide after the Nasdaq said on Tuesday it plans to delist it from the exchange. Today, the Senate passed a bill that could delist Chinese stocks from American exchanges, which comes in part as a response to fraud revelations at Luckin, which caused American investors to lose billions.
Luckin shares were down 25.9% as of 3:00 p.m. EDT, trading just north of $2.
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Source Fool.com
