Why Luckin Coffee Stock Surged Today

Shares of Luckin Coffee (NASDAQ: LK) continued to rally today as some investors believe the low-priced Chinese coffee chain is a bargain after revelations of fraud caused the stock to plunge. Though there was no news out on the stock today, the shares rallied for the third day in a row and have now gained more than 60% since Monday as a potential short squeeze could also be lifting the stock.

As of 11:32 a.m. EDT on Thursday, shares were up 29.1%.

Image source: Getty Images.

Continue reading

Source Fool.com