I am a Luckin Coffee (NASDAQ:LK) shareholder, and lately, it’s not as if I have a choice. The stock has been halted since April 7, shortly after the company revealed that its COO, along with several others at the Chinese coffee-brewing chain, were cooking the books.
I’m still a stakeholder because I can’t sell my stock. If you own it, you’re in my boat. If you’re a contrarian — looking to buy into a stock that last traded 91% below January’s all-time high — you’re also out of luck. No one’s getting in for now. No one’s getting out for now. It’s a time capsule of corporate greed and shareholder regret, waiting to be unlocked the moment that the exchange allows Luckin Coffee to start trading again.