NY cocoa surges to near 9-month high, arabica plunges
November 22, 2020
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From brecorder.com New York cocoa futures climbed to the highest
Last week, the company told investors that it’s affirming its plan to expand revenue by the low to mid single digits in fiscal 2020 and to grow diluted earnings per share by 13% to 15%. Management also held a conference call to discuss business continuity and its supply chains, given the rising demand for some of its products.
The high-quality coffee provider issued a rebuke against the short seller. It said that “the methodology of the Report is flawed, the evidence is unsubstantiated, and the allegations are unsupported speculations and malicious interpretations of events.”
Luckin was forced to temporarily close an estimated 200 coffee shops in Wuhan, capital of the Hubei province in China and epicenter of the deadly virus outbreak.
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