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As If Luckin Coffee Didn't Have Enough Trouble, Tencent Is Now Coming After It

Billy Duberstein, The Motley Fool
·4 min read
As If Luckin Coffee Didn't Have Enough Trouble, Tencent Is Now Coming After It

It might seem as if things couldn't get worse for Luckin Coffee (NASDAQ: LK). In early May, after its chief operating officer and other associated employees resigned amid allegations of fabricating meaningful amounts of Luckin's sales, Luckin's stock plunged and was subsequently halted for several weeks. During the trading halt, Luckin's CEO was later fired as well, as apparently a deeper malfeasance was discovered at the company in the meantime.

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