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Here's why Luckin Coffee Stock Is Still a Great Deal

TheMotleyFool

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Here's why Luckin Coffee Stock Is Still a Great Deal: https://g.foolcdn.com/editorial/images/696301/gettyimages-477826910.jpg

With the S&P 500 down 11% year to date, 2022 has been a tough year for many companies. But Luckin Coffee (OTC: LKNC.Y) has bucked the trend, with its shares rising by an impressive 48% over the same period as it normalizes operations after its bankruptcy restructuring.

Let's explore why Luckin's long-term growth story could be just getting started.

In 2020, an internal probe discovered that Luckin Coffee's previous management fabricated roughly $300 million in 2019 sales. This bombshell finding sent investors rushing for the exits. And the company's stock price plunged from its all-time high of $50 in January 2020 to under $2 before its delisting from the NASDAQ just six months later.

Source Fool.com

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