A Muddy Waters piece this morning claiming LK is a fraud,
grossly inflating its numbers, is the main contributor to today's
selloff. "Luckin Coffee Inc. (LK) is down 12% in Friday trading
after an anonymous report received by short seller Muddy Waters
Research that alleges the company is fabricating its financial and
operating figures, beginning with Q3 2019. MarketWatch cannot
confirm the authenticity of the report, which is 89 pages long. The
report alleges the number of items per store was bumped up 69% in
the third quarter and 88% in the fourth quarter, based on 11,260
hours of store video that the anonymous authors claimed to have
viewed."
LK crushed with the coronavirus
Posted by steve on 31st of Jan 2020 at 11:55 am
LK crushed with the coronavirus
A Muddy Waters piece this
Posted by jimsim on 31st of Jan 2020 at 12:07 pm
A Muddy Waters piece this morning claiming LK is a fraud, grossly inflating its numbers, is the main contributor to today's selloff. "Luckin Coffee Inc. (LK) is down 12% in Friday trading after an anonymous report received by short seller Muddy Waters Research that alleges the company is fabricating its financial and operating figures, beginning with Q3 2019. MarketWatch cannot confirm the authenticity of the report, which is 89 pages long. The report alleges the number of items per store was bumped up 69% in the third quarter and 88% in the fourth quarter, based on 11,260 hours of store video that the anonymous authors claimed to have viewed."
Accounting for any Chinese Company
Posted by rwbutcher2020 on 31st of Jan 2020 at 12:58 pm
Accounting for any Chinese Company is questionable.