By Brian M. Reiser Luckin Coffee (Nasdaq: LK) may not be as well known in America as Starbucks (Nasdaq: SBUX). But in China, the “Little Blue Cup” as it is affectionately known there, is huge. Or should I say, it’s venti? But even in America, investors in Luckin Coffee stock know the brand well.
In fact, Luckin Coffee now has more coffee stores in China than Starbucks does by several hundred. And until this week, it may have seemed poised to dominate Starbucks as China’s coffee of choice for the foreseeable future.
But after some nasty headlines about accounting fraud at the company this past week, …read more
