A Bull Run Is Coming: 1 Growth Stock Down 50% That Won't Stay Cheap for Long
With its shares up by a whopping 200% in the last 12 months, it might be surprising to know that Luckin Coffee (OTC: LKNC.Y) is still trading for less than half its all-time high of $50, which was reached in early 2020.
Since then, the Chinese coffeeshop has been through a high-profile fraud case, a forced delisting from the Nasdaq index, and Chapter 15 bankruptcy. But with those issues resolved, and growth and profitability soaring, it could only be a matter of time before the stock blows past its previous levels.
Luckin Coffee's first-quarter results highlight spectacular momentum. Revenue soared 85% to $646 million as the company opened 1,137 new stores, including its first two international locations in Singapore. With 9,351 total locations, Luckin is the largest Coffee chain in China. For context, U.S.-based rival operates a little over 6,000 stores in China and almost 36,000 globally.
Source Fool.com
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