LK - Nasdaq Gives Luckin Coffee a Delisting Notice
Shareholders of Chinese coffee company Luckin Coffee (NASDAQ: LK) got the news they feared: Nasdaq gave the company a delisting notice. In a Tuesday press release, Luckin acknowledged it received notice last week. Nasdaq cited two reasons for the delisting. First, investors are concerned about the stock since it disclosed inflated sales. And second, Luckin's sales were inflated in the first place.
For now, Luckin Coffee stock is still frozen in place. Nasdaq paused trading to the stock on April 7.
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