Luckin Coffee

Starbucks Corp (NASDAQ:SBUX) has launched a new AI tool to help baristas prepare drinks. What Happened: Green Dot Assist, the Seattle-based coffee chain announced, is an AI tool developed with Microsoft Azure’s OpenAI, Business Insider reports. It will serve as a virtual assistant for...

China’s largest coffee chain, Luckin Coffee (OTC:LKNCY), is preparing to enter the U.S. market, aiming to challenge rivals, including Starbucks Corp. (NASDAQ:SBUX), with its low-cost beverages. This move follows a fraud scandal that led to Luckin’s delisting from Nasdaq and a hefty fine...

Luckin Coffee (OTC:LKNCY), the Chinese coffee chain, has made a remarkable recovery after a major accounting scandal in 2020. The company has not only survived but has also emerged as a fierce competitor to Starbucks Corporation (NASDAQ:SBUX). What Happened: Luckin Coffee, once considered China...

Starbucks Corp's (NASDAQ:SBUX) recent moves in China have raised eyebrows among investors. The Seattle-based retailer faces competition from local brands like Luckin Coffee Inc (OTCPK: LKNCY) and Manner Coffee. A significant increase in discounting strategies, such as coupons and two-for-one deals...

Major U.S. indices flashed red on Wednesday after the Federal Reserve maintained interest rates between 5.25% and 5.5%. The Dow Jones Industrial Average closed 0.8% lower at 38,150.30 for the day, while the S&P 500 fell 1.6% lower at 4,845.65. The Nasdaq ended Wednesday down 2.23% at 15,164.01...

Today, the stock market showed a mixed performance, with the Dow Jones Industrial Average gaining over 70 points, while the S&P 500 and the Nasdaq indices experienced a slight dip amid ratings cut for the U.S. by Fitch Ratings. Despite the overall positive performance of the Dow, the S&P...

Shares of chinese online education company GSX Techedu Inc (NYSE: GSX) dropped in the regular and after-hours session on Wednesday, as reports suggested the company is under probe from the Securities and Exchange Commission over allegations that its sales numbers are fudged. What Happened...

Luckin Coffee Inc (OTC: LKNCY) announced the appointment of a new chairman and directors to its board, following an extraordinary general meeting held Monday. What Happened Acting Chief Executive Officer and existing board member, Jinyi Guo, has been appointed the chairman and...

Close observers of Chinese companies were able to see "from very early on" that Luckin Coffee was engaged in fraud, Anne Stevenson-Yang, research director at J Capital Research, told CNBC on Monday. What Happened: China-based Luckin Coffee showed investors tremendous growth prospects when...

Luckin Coffee Inc. (OTC: LKNCY) Chairman Charles Zhengyao Lu was ousted from his role at the company in a shareholders meeting on Sunday, Bloomberg reported. What Happened Lu had called the "extraordinary general meeting," as he also sought removal of one of the independent members of the...

New details have emerged about an anonymous short seller report on Chinese coffee chain Luckin Coffee Inc, including the potential author and the methods used, The Wall Street Journal reported. The Luckin Short Report: Multiple notable short sellers received an anonymous e-mail tip in...

Bitcoin (BTC) mining equipment manufacturer Ebang International Holdings has filed to go public in the United States, CoinDesk reported Saturday. What Happened In a filing with the Securities and Exchange Commission on April 24, Ebang said it is looking to raise up to $100 million in the initial...

The shares of Luckin Coffee Inc. (NASDAQ: LK) dropped another 18% lower on Monday as Goldman Sachs Group Inc. (NYSE: GS) sought enforcement action against an entity controlled by the company's chairman Charles Zhengyao Lu. What Happened The bank, acting as a "disposal agent" on behalf...

Luckin Coffee (NASDAQ: LK) is adopting a more aggressive approach towards capturing the Chinese coffeehouse market. What Happened The Xiamen-based company is now expanding into the vending machine business to sell hot and cold beverages, and snacks, Reuters reported on Wednesday. "It allows...

If you are among the rare ones who hasn't heard of Luckin Coffee (NASDAQ: LK), many already named this second largest growing coffee-based chain as a Chinese Starbucks. Whether or not it can catch up to Starbucks Corporation (NASDAQ: SBUX) is an ongoing debate, but their business models are...