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Cramer Remix: Be Very Careful With Luckin Coffee’s IPO

From: cnbc.com

CNBC’s Jim Cramer revealed Monday that he has a “hard pass” on newly-public Luckin Coffee.

That’s because initial public offerings of Chinese-owned companies have brought too much pain, he said. Luckin, the Beijing-based chain that wants to surpass Starbucks as the biggest coffee chain in that country, surged as much as 50% after opening at $25 on Friday.

The stock ended Monday’s session under $19 per share.
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