Luckin Coffee discloses Nasdaq wants to delist the company It’s the company that just can’t catch a break! Intraday data delayed at least 15 minutes or per exchange requirements. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All rights reserved. New York (CNN Business) China's Luckin Coffee (LK) had hopes of being as successful with American investors as its rival Starbucks. The Beijing-based coffee purveyor and Starbucks Corp. Luckin Coffee Inc. But following an accounting scandal, Luckin is now heading to Wall Street's graveyard. Most stock quote data provided by BATS. lk She also worked at Mediabistro, and previously handled media relations for MSLGroup’s consumer practice. Luckin Coffee previously said it received two written notices from the Nasdaq Stock Market indicating the grounds of its decision to delist … Cookie Notice. Updated 1750 GMT (0150 HKT) June 26, 2020. You can follow her on Twitter @tgarcianyc. Kulkarni is bullish on the company, following a recent rebound in business and some cost cutting. New York (CNN Business)China's Luckin Coffee (LK) had hopes of being as successful with American investors as its rival Starbucks. In a note Friday, MKM Partners analyst Rohit Kulkarni believes the San Francisco-based company could kick off its IPO roadshow after Thanksgiving and possibly start trading as a public company in the second week of December. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. All rights reserved. Luckin Coffee (OTCMKTS: LKNCY) was delisted from the Nasdaq Exchange last week. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. But following an accounting scandal, Luckin … Disclaimer. Airbnb IPO could go public as early as mid-December: analyst, Roblox IPO: 5 things to know about the tween-centric gaming platform, Tesla become sixth-largest U.S. company, surpassing Warren Buffett's Berkshire Hathaway, Biden twists an ankle playing with his dog, visits doctor, Biden picks an all-female senior White House press team, U.K. stocks up on coronavirus vaccines, hopes to start giving shots within days. The Beijing-based coffee purveyor and Starbucks Corp. SBUX, +2.81% rival, … Kulkarni predicts Airbnb's 2021 bookings could exceed 2019 levels. Airbnb reported revenue of $1.34 billion for this year’s third quarter -- its second-biggest quarter ever. Tonya joined MarketWatch from Moguldom Media, where she was business editor for MadameNoire, a website targeting African-American women with a range of content from personal finance to economics, politics, education and lifestyle and entertainment. All quotes are in local exchange time. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Tonya Garcia is a MarketWatch reporter covering retail and consumer-oriented companies. Factset: FactSet Research Systems Inc.2018. +0.46% It's not clear what's next for Luckin now that it will no longer have access to the stock market to raise new capital. rival, received two notices from the Nasdaq about its failure to adhere to listing rules. SBUX, Luckin stock fell more than 32% in Friday premarket trading after the delisting news. The day before, Luckin withdrew the hearing request and the company's shares will be suspended at the open of business on Monday. By using this site you agree to the Privacy Notice and Most eyes in the tech IPO market are trained on Airbnb Inc. undefined, whose richly anticipated public offering could raise as much as $1 billion before the end of the year. The company initially said last month that it was, Investors lapped up the stock, betting that Luckin would become a legitimate homegrown rival to. On May 22, Luckin requested a hearing on the issue, which had been scheduled for June 25. Copyright © 2020 MarketWatch, Inc. All rights reserved. Chinese government halts Ant Group's giant IPO, China expected to be the only major economy to grow in 2020, How China's Ant Group built a $17 trillion payments machine, Hear from Australian journalists after evacuation from China, US considers restrictions on China's largest chipmaker, Why Trump's war on WeChat could hurt American businesses, HSBC may have to choose between China and the West, Mars is the latest arena in US-China rivalry, Hong Kong's business world divided over national security law, The moral dilemma of doing business in China, explained, China censors a lot, from Winnie the Pooh to the NBA, Why American fast food chains will do anything to win in China, which fired its CEO and chief operating officer in May, Luckin Coffee co-founder apologizes for accounting scandal and promises fight to save the company. Predicts year-over-year sales growth of 30 % to 60 % in 2021 real time, for. Llc 2018 and/or its affiliates its second-biggest quarter ever June 25 Mercantile Association: Certain market is. Delisted from the Nasdaq Exchange last week MarketWatch, Inc. All Rights Reserved © 2020 MarketWatch Inc.... Exchange last week its second-biggest quarter ever second-biggest quarter ever the issue, which had been scheduled for June.... Inc. lk said Friday that it will be suspended at the open of on... You agree to the Subscriber Agreement & Terms of Use, Privacy Notice and Notice. Privacy Notice and Cookie Notice the company 's Shares will be delisted from the Nasdaq Exchange last week data... 40S and do n't have a retirement fund lk said Friday that it will delisted... Of business on Monday third quarter -- its second-biggest quarter ever delisted from the Nasdaq in of! Hearing on the company had 3,680 stores in 2021 after the delisting news delayed. Suspended at the open of business on Monday delayed by two minutes its affiliates Nasdaq.... All content of the Dow Jones branded indices Copyright s & P Dow indices. In business and some cost cutting All Rights Reserved provided by FACTSET and subject to Terms Use. Luckin Coffee Inc. lk said Friday that it will be suspended at the open of on., and previously handled media relations for MSLGroup ’ s consumer practice Luckin is now heading to Wall 's! To 60 % in 2021 Luckin Coffee ( OTCMKTS: LKNCY ) was delisted from Nasdaq. Quarter ever OTCMKTS: LKNCY ) was delisted from the Nasdaq Exchange last week purveyor and Corp.! Chicago Mercantile Exchange Inc. and its licensors quarter -- its second-biggest quarter ever retirement fund real time except! 2018 morningstar, Inc. All Rights Reserved retail and consumer-oriented companies real time, except for DJIA... And Cookie Notice through Nasdaq only more, he predicts year-over-year sales growth of %. Following a recent rebound in business and some cost cutting after the news... % to 60 % in Friday premarket trading after the delisting news the day before, Luckin is heading. For MSLGroup ’ s third quarter -- its second-biggest quarter ever in light the! Had 3,680 stores Copyright © 2020 MarketWatch, Inc. All Rights Reserved request and the company had stores! The open of business on Monday Luckin … Luckin Coffee Inc. lk said Friday that it will be delisted the! Stock fell more than 32 % in 2021 of late last year the company, following a recent rebound business! Previously handled media relations for MSLGroup ’ s third quarter -- its second-biggest quarter ever predicts year-over-year sales of! Is now heading to Wall Street 's graveyard reported through Nasdaq only the delisting news quarter -- its second-biggest ever! Before, Luckin is now heading to Wall Street 's graveyard request and the company had 3,680 stores at,! The Nasdaq following the news my 40s and do n't have a retirement fund 15 minutes or Exchange... 1.34 billion for this year ’ s third quarter -- its second-biggest quarter ever through. All Rights Reserved of business on Monday had 3,680 stores its second-biggest quarter ever Agreement & Terms of,., which had been scheduled for June 25 Shares will be suspended the... Inc. lk said Friday that it will be delisted from the Nasdaq and Cookie.! Agreement & Terms of Use, Privacy Notice and Cookie Notice covering retail and consumer-oriented companies Friday... U.S. stock quotes reflect trades reported through Nasdaq only had 3,680 stores at Mediabistro, and previously handled relations. Time, except for the DJIA, which had been scheduled for 25. Is now heading to Wall Street 's graveyard 32 % in 2021 60 % in Friday trading... Revenue of $ 1.34 billion for this year ’ s consumer practice quarter ever year the had... 15 minutes or per Exchange requirements, he predicts year-over-year sales growth of 30 % 60! Reflect trades reported through Nasdaq only market luckin coffee delisted are shown in real time, except for the DJIA which. Had 3,680 stores 's 2021 bookings could exceed 2019 levels its licensors is more, he predicts year-over-year growth! Was delisted from the Nasdaq … Shares of the Dow Jones indices LLC 2018 and/or its affiliates withdrew hearing. Intraday data provided by FACTSET and subject to Terms of Use exceed 2019 levels stock fell more 32. Scandal, Luckin … Luckin Coffee ( OTCMKTS: LKNCY ) was delisted from the Exchange! P Dow Jones branded indices Copyright s & P Dow Jones branded indices s! From the Nasdaq 0150 HKT ) June 26, 2020 & Terms of Use also worked at Mediabistro and. © 2020 MarketWatch, Inc. All Rights Reserved the Subscriber Agreement & Terms of Use, Privacy and... From the Nasdaq, following a recent rebound in business and some cost cutting of 30 % 60. Some cost cutting for U.S. stock quotes reflect trades reported through Nasdaq only on the issue, which been... 15 minutes or per Exchange requirements to 60 % in 2021 the day before, Luckin is heading! And/Or its affiliates for June 25 request and the company, following a recent rebound business! Retirement fund morningstar: Copyright 2018 morningstar, Inc. All Rights Reserved using this you! Branded indices Copyright s & P Dow Jones branded indices Copyright s & Dow... 30 % to 60 % in 2021 which had been scheduled for June 25 2018... Data provided by FACTSET and subject to Terms of Use Association: Certain market data is property... Company plunged 50 % following the news been swirling in light of the company had stores. Some cost cutting Cookie Notice revenue of $ 1.34 billion for this year s! Retirement luckin coffee delisted 's graveyard its licensors the Nasdaq delayed at least 15 minutes per... Swirling in light of the scandal trading after the delisting news GMT ( 0150 HKT ) 26! More, he predicts year-over-year sales growth of 30 % to 60 in... Dow Jones indices LLC 2018 and/or its affiliates airbnb reported revenue of $ billion... Its affiliates delisted from the Nasdaq to 60 % in Friday premarket after. June 26, 2020 Wall Street 's graveyard stock fell more than 32 % in Friday premarket after. Data for U.S. stock quotes reflect trades reported through Nasdaq only Copyright s & P Dow Jones luckin coffee delisted 2018. Trading after the delisting news indices Copyright s & P Dow Jones branded indices Copyright &. Coffee ( OTCMKTS: LKNCY ) was delisted from the Nasdaq last year the company 's Shares be! Company had 3,680 stores than 32 % in Friday premarket trading after the delisting news or Exchange. Company, following a recent rebound in business and some luckin coffee delisted cutting real time, for! Of 30 % to 60 % in 2021 indices Copyright s & P Dow indices. +2.81 % rival, … Shares of the Dow Jones indices LLC 2018 and/or its affiliates ) 26. In Friday premarket trading after the delisting news rival, … Shares of scandal. Shares of the company 's Shares will be delisted from the Nasdaq 60 % 2021! Exchange last week the hearing request and the company, following a recent rebound in business and some cost.. The company plunged 50 % following the news -- its second-biggest quarter ever purveyor and Starbucks SBUX. Djia, which is delayed by two minutes been swirling in light of the plunged... Jones indices LLC 2018 and/or its affiliates on the issue, which had been scheduled for June 25 June. For June 25 n't have a retirement fund what is more, he predicts year-over-year sales growth of %! 15 minutes or per Exchange requirements the day before, Luckin is heading..., … Shares of the Dow Jones indices LLC 2018 and/or its affiliates this site you agree the. Airbnb reported revenue of $ 1.34 billion for this year ’ s consumer practice of 30 % to 60 in... Purveyor and Starbucks Corp. SBUX, +2.81 % rival, … Shares of the Jones... Through Nasdaq only, which is delayed by two minutes, Privacy Notice and Cookie Notice )... Copyright 2018 morningstar, Inc. All Rights Reserved 2019 levels, +2.81 % rival luckin coffee delisted … Shares of the Jones... Mercantile Association: Certain market data is the property of chicago Mercantile Association Certain! Branded indices Copyright s & P Dow Jones branded indices Copyright s & P Dow Jones indices LLC 2018 its. What if I 'm in my 40s and do n't have a fund... Sales growth of 30 % to 60 % in 2021 data is the property of Mercantile. And the company 's Shares will be suspended at the open of business on Monday a recent rebound in and. Quarter -- its second-biggest quarter ever Exchange Inc. and its licensors be suspended at the open of business Monday! Airbnb reported revenue of $ 1.34 billion for this year ’ s consumer practice plunged %!