Why Luckin Coffee Stock Popped Today

Shares of Luckin Coffee (NASDAQ: LK) were up 11.7% as of 3:05 p.m. EST Wednesday after the Chinese coffee shop chain announced plans for deploying new "smart" unmanned coffee and vending machines.

In a press release late Tuesday, Luckin said it will enter the "unmanned retail market" via the launch of its Luckin Coffee Express coffee machine and its Luckin Pop Mini smart vending machines. The terminals will use a variety of cutting-edge features (the company says they're "empowered by IoT, big data, facial recognition, and other advanced technologies").

Image source: Getty Images.

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Source Fool.com