Luckin Coffee Inc ADR (LK) Stock News
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LK Latest News, Press Relases and Analysis
Why the US Is Interested in Audits of Chinese Companies
For more than three years, about 200 Chinese companies whose shares trade in the US have faced the prospect of being delisted from New York exchanges if American regulators are blocked from fully reviewing their audit documents. The companies, including big names such as JD.com Inc. and Baidu Inc., said Chinese national security law prohibited them from turning over the work papers. A 2022 agreement between Beijing and Washington cleared the way for US inspections of the audits to begin.
What's Driving US-China Spat Over Audits and Delisting
About 200 Chinese companies whose shares trade in the US, including JD.com Inc. and Baidu Inc., face delisting because American regulators aren’t able to verify their financial audits. While China and the US continue to negotiate access to audits, there are signs that Chinese companies are preparing for the eventuality of expulsion from the New York Stock Exchange and the Nasdaq. Already, Alibaba Group Holding Ltd. said it will seek a primary listing in Hong Kong, a move that could be the precur
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Track Alibaba, JD.com, NetEase and other top Chinese stocks trading in the U.S., and get timely analysis of the trends affecting them.
How the U.S. Is Moving Closer to Delisting Chinese Firms
Some big-name Chinese stocks are facing the prospect of getting booted from the New York Stock Exchange and Nasdaq if they refuse to let U.S. regulators see their financial audits. A revived effort by the U.S. Securities and Exchange Commission to gain access to audits of overseas companies that began under former President Donald Trump is continuing under President Joe Biden. Alibaba Group Holding Ltd. and Baidu Inc. are among 200-plus companies in the regulator’s crosshairs, and although the p
LK Investor Alert: Kyros Law is Filing Legal Claims on Behalf of Luckin Coffee (OTC:LKNCY) formerly (NASDAQ: LK) Investors
/PRNewswire/ -- Kyros Law Offices is alerting investors of Luckin Coffee (OTC:LKNCY) formerly (NASDAQ: LK) that it is filing legal claims against the company...
How U.S. Is Moving Closer to Delisting Chinese Firms
Some big-name Chinese stocks are facing the prospect of getting booted from the New York Stock Exchange and Nasdaq if they refuse to let U.S. regulators see their financial audits. A revived effort by the U.S. Securities and Exchange Commission to gain access to audits of overseas companies that began under former President Donald Trump is continuing under President Joe Biden. Alibaba Group Holding Ltd. and Baidu Inc. are among 200-plus companies in the regulator’s crosshairs, and although the p
LK Investor Alert: Kyros Law is Filing Legal Claims on Behalf of Luckin Coffee (OTC: LKNCY) formerly (NASDAQ: LK) Investors
/PRNewswire/ -- Kyros Law Offices is alerting investors of Luckin Coffee (OTC: LKNCY) formerly (NASDAQ: LK) that it is filing legal claims against the company...
Why the U.S. Is Threatening to Delist China Stars Like Alibaba
Some big-name Chinese stocks could eventually be kicked off the New York Stock Exchange and Nasdaq if they refuse to let U.S. regulators see their financial audits. An effort by the U.S. Securities and Exchange Commission to gain access to audits of overseas companies, which began under former President Donald Trump, is continuing under President Joe Biden. Alibaba Group Holding Ltd. and Baidu Inc. are among Chinese companies listed in the U.S. whose audit firms aren’t complying with the demand.
Best Stocks for 2020: Luckin Coffee Stock Has Greatly Improved Its Outlook
Luckin Coffee may not have been one of the best stocks in 2020, but its chances are looking brighter thanks to a new company strategy.
China raps Luckin Coffee with $9M fine after large-scale fraud (NASDAQ:LK)
Delisted Luckin Coffee (NASDAQ:LK) was fined by China's top commerce regulator after being found to have forged merchandise vouchers to inflate sales.
Mentions: SBUX
Chinese Netflix-style service iQiyi tanks by 18% after U.S. regulators investigate fraud allegations
The SEC investigation was prompted by a report from Wolfpack Research in April in which it accused iQiyi of fraud and inflating revenue and user numbers.
Test Sprint-15
Dow Jones futures edged higher early Wednesday, along with S&P 500 futures and Nasdaq futures, as coronavirus cases in the U.S. topped 400,000. The stock market rally erased big early... Read More
Tencent-backed Chinese online real estate player files for U.S. IPO
Beike Zhaofang (BEKE) plans to offer 106M shares in a range of $17 to $19 to mark the biggest IPO by a Chinese company since iQIYI raised $2.4B in 2018.
Mentions: BEKE
Luckin Continues to Stir up Turmoil
Luckin stock's bullish case seems unlikely with its persistently controversial decisions and one-dimensional business strategy.
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Dow Jones futures edged higher early Wednesday, along with S&P 500 futures and Nasdaq futures, as coronavirus cases in the U.S. topped 400,000. The stock market rally erased big early... Read More
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test sprint 2020-13 article
Dow Jones futures edged higher early Wednesday, along with S&P 500 futures and Nasdaq futures, as coronavirus cases in the U.S. topped 400,000. The stock market rally erased big early... Read More
Luckin Coffee ousts chairman Lu, names Guo as CEO
Luckin Coffee has ousted co-founder and chairman Charles Zhengyao Lu and replaced him with Jinyi Guo, who will also be the chief executive officer, the embattled coffee chain disclosed on Monday.
Mentions: SBUX
Luckin names Guo as Chairman, CEO after booting founder (NASDAQ:LK)
Luckin Coffee (NASDAQ:LK) names board member and former acting CEO Jinyi Guo as its new Chairman and CEO, replacing founder and former Chairman Charles Zhengyao Lu, who was voted out by shareholders at a general meeting on July 5.Luckin also appoints two independent board members and announces the departure of four others.Fortunes of Luckin, which competes directly against the likes of Starbucks, have plunged since an internal probe into ~$300M in fake annual sales was disclosed in April.
Mentions: SBUX
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Luckin Coffee Is a Cautionary Tale for Investors
Facing the fallout of its fraud allgations, Luckin stock takes a hit as it loses its listing on the Nasdaq.
Mentions: SBUX
A 'financial war' with China could be brewing on top of the trade war
U.S. regulators have long sought more transparency from Chinese companies with shares trading on U.S. exchanges.
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Alibaba Has Lots of Potential, But It’s Still a Hold
Chinese e-commerce giant Alibaba is fairly valued right now and with plenty of gas left in the tank. But Alibaba stock is still a hold.
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Analyst Says Luckin Coffee Looked Like A Fraud From The Beginning
Close observers of Chinese companies were able to see "from very early on" that Luckin Coffee was engaged in fraud, Anne Stevenson-Yang, research director at J Capital...
Shareholders give Luckin chairman the boot (NASDAQ:LK)
Luckin Coffee (NASDAQ:LK) chairman and co-founder Charles Lu was voted out by shareholders, less than a week after the board failed to get the two-thirds votes needed to remove him.Three other directo
Luckin chairman knew or should have known about fabricated deals - WSJ (NASDAQ:LK)
An investigation conducted by a special committee of Luckin Coffee's (NASDAQ:LK) board concludes that the company's chairman, Charles Lu, knew or should have known about bogus transactions that inflat
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Luckin Coffee board keeps Lu as chairman (NASDAQ:LK)
Scandal-struck Luckin Coffee (NASDAQ:LK) says its board is keeping Charles Zhengyao Lu as chairman. The board was taking up a proposal from the board's Special Committee recommending Lu's removal fro
Best & Worst Performing Small Cap Stocks for July 2, 2020
GNUS – GNUS leads the way today as the best performing small cap stock, closing up 53.68%.