Why Luckin Coffee Stock Surged Today
Shares of Luckin Coffee (NASDAQ: LK) continued to rally today as some investors believe the low-priced Chinese coffee chain is a bargain after revelations of fraud caused the stock to plunge. Though there was no news out on the stock today, the shares rallied for the third day in a row and have now gained more than 60% since Monday as a potential short squeeze could also be lifting the stock.
As of 11:32 a.m. EDT on Thursday, shares were up 29.1%.
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Source Fool.com
