Thread by @jackycwong, Luckin's sales last year were overstated as its COO was allegedly engaged [...]

Jacky Wong

jackycwong

Luckin& #39;s sales last year were overstated as its COO was allegedly engaged in fraud

http://investor.luckincoffee.com/node/6886/html ">https://investor.luckincoffee.com/node/6886...

Luckin& #39;s sales last year were overstated as its COO was allegedly engaged in fraud https://investor.luckincoffee.com/node/6886...

this is a short-seller report published in Feb. The company denied the accusations at that time $LK https://drive.google.com/file/d/1LKOYMpXVo1ssbWQx8j4G3-strg6mpQ7F/view">https://drive.google.com/file/d/1L...

Luckin Coffee_Anonymous.pdf

https://drive.google.com/file/d/1LKOYMpXVo1ssbWQx8j4G3-strg6mpQ7F/view

and boom!
$LK down 84% premarket

and Citron went long $LK after Muddy Waters stood behind that short report https://twitter.com/CitronResearch/status/1223302786747527169">https://twitter.com/CitronRes...

https://twitter.com/CitronResearch/status/1223302786747527169

Luckin raised nearly $900 million in January from selling shares at $42 and issuing CBs

Stock now at $5.62 and market cap at $1.4 billion

Centurium Capital sold $232 million of shares in the January placement too...

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤷‍♂️" title="Man shrugging" aria-label="Emoji: Man shrugging">

" title="https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤷‍♂️" title="Man shrugging" aria-label="Emoji: Man shrugging">" class="img-responsive" style="max-width:100%;"/>

You can follow @jackycwong.

Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: