3 Reasons to Buy Luckin Coffee Stock
The name Luckin Coffee (OTC: LKNC.Y) probably makes you think of the dangers of investing in Chinese stocks. But now, the company's narrative is changing. Three years on from the company's crisis, in which it was discovered that its previous management had fabricated $300 million worth of sales, this controversial coffee shop has begun to reinvent itself.
While it could take years (if ever) for Luckin Coffee to fully shed the stigma of its previous fraud, management has done a great job of turning the ship around. In April, the company emerged from Chapter 15 bankruptcy -- a process designed to restructure its debt in the U.S. without materially impacting the company's day-to-day operations.
Image source: Getty Images.
Source Fool.com
