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Wall Street Sees Major Growth Potential For Luckin In Untapped Chinese Coffee Market

From: cnbc.com

Beijing-based coffee chain Luckin Coffee is catching the eye of Wall Street analysts who are hoping the newly public company’s technology-driven business model will fuel growth in an underpenetrated coffee market in China.

Luckin, which is the second-largest coffee chain in China, soared nearly 50% on its first day of trading on the Nasdaq in May. Despite the stock being down slightly since then, it has garnered quite a few favorable ratings from Wall Street.

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