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Luckin Coffee Surges On Improving Operating Metrics

From: seekingalpha.com

Luckin Coffee (LK) must have been serving more than coffee during its pre-IPO roadshow months earlier. Despite recording net losses greater than total revenues in the quarter prior to its May IPO, the company was able to attract large institutional positions after shares traded publicly. After posting third quarter 2019 results, Luckin shares soared by over 42% proving recent large institutional bets correct. Unlike a number of recent unicorn companies, Luckin Coffee has a very precise business plan that should lead to substantial earnings growth in the coming quarters.

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