LK - These 3 Chinese Tech Stocks Could Be in Serious Trouble
Luckin Coffee (NASDAQ: LK), which recently surpassed Starbucks as China's top coffee chain (by total number of stores), recently stunned investors after it admitted to fabricating sales figures last year. Its stock price plunged from $26 to just over $4 before it was halted on April 6, and sparked serious concerns about other U.S.-listed Chinese stocks.
Three other Chinese companies recently joined Luckin in that unflattering spotlight: TAL Education (NYSE: TAL), GSX Techedu (NYSE: GSX), and iQiyi (NASDAQ: IQ). Let's see if investors should also be wary of these three high-growth Chinese stocks.
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