VZ - Nasdaq Today: Last Day for Luckin; Facebook Falls Further
The stock market had a tough day to end the week, with investors growing increasingly nervous about the rising number of new COVID-19 cases. The Nasdaq Composite (NASDAQINDEX: ^IXIC) has resisted coronavirus-inspired sell-offs before, but it didn't succeed today, losing around 2.5%. The Nasdaq 100 saw similar declines in percentage terms.
Thousands of companies list their shares on the Nasdaq, but it looks like Luckin Coffee's (NASDAQ: LK) days on the exchange are coming to an end. Meanwhile, Facebook (NASDAQ: FB) continued to fall sharply as recent controversies continue to put pressure on the social media stock.
Shares of Luckin Coffee lost more than half their value on Friday. The beleaguered Chinese coffee company has gone through a lot in 2020, but it looks as though Luckin has finally run out of time to address the sticky situation in which it finds itself.