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Why Luckin Coffee Stock Surged 54% Last Month

TheMotleyFool

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Why Luckin Coffee Stock Surged 54% Last Month

Shares of Luckin Coffee (NASDAQ: LK) were heating up last month after the Chinese coffee chain posted a strong third-quarter earnings report in its second update as a publicly traded company, and its lockup period expired without significant selling. According to data from S&P Global Intelligence, the stock finished November up 54%.

As you can see from the chart, the stock's surge came in the middle of the month following its earnings report.