Why Luckin Coffee Stock Just Bounced 10%

After tumbling 15% in Thursday's broad-based market sell-off, shares of Chinese coffeehouse chain Luckin Coffee (NASDAQ: LK) are enjoying a bounce today -- up 10.5% as of 10:55 a.m. EDT.

Honestly, there doesn't seem to be any reason for that, given that there's no news from Luckin, nor any news about Luckin, either. There are no analyst upgrades supporting the stock, nor is anyone suggesting that, after falling 82.5% in the past 12 months, Luckin deserves a higher price target.

Image source: Getty Images.

Continue reading

Source Fool.com