market

Not So Lucky: Luckin Coffee Chairman’s Car Rental Shares Fall To All-Time Low

Shares in Luckin Coffee have more than doubled since the big China coffee chain began trading on the Nasdaq last year, making it one of the country’s best-performing IPOs in the U.S. during that stretch. Aside from a pioneering digital-payment-only business model, Luckin’s rapid growth and rivalry with Starbucks have made it an attractive story for investors and journalists despite the company’s financial losses.