Luckin Coffee resumes trading after over a month-long halt, slumps

Luckin Coffee

20/05/2020 12:33

** Chinese coffee chain's shares  LK.O  fall ~26% to $3.27
premarket, as they resume trading after over a month-long halt
    ** Trading was halted on April 7   
    ** LK earlier this week said Nasdaq Inc  NDAQ.O  notified it
of plans to delist its shares, a month after coffee chain
disclosed inflated annual sales  urn:newsml:reuters.com:*:nL1N2D10Q8
    ** In April, LK said an internal probe revealed some 2019
sales were fabricated, leading to an investigation by China's
and American securities regulator and the exit of its chief
executive and chief operating officer 
    ** Stock fell more than 80% on the day probe was revealed,
down ~89% so far this year 

 (Reporting by Nivedita Balu in Bengaluru)
 ((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))