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Analysis: #Other OTC $LKNCY
Case 553 #LuckinCoffee Inc.
DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.
LKNCY 1/3
Case 553 #LuckinCoffee Inc.
DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.
LKNCY 1/3
Daily Chart: Holding above control and the #SMA 50 7.9718/10, a close below targets 6.60- 5.65 (SMA 200 5.61). Farther down strong buying interest 3.86- 1.86. Immediate #resistance at the .....
LKNCY 2/3
LKNCY 2/3
..... trendline 10.52, then block resistance 12.78- 14.58 but a close above the #trendline at 16.80 is required and then control at 20.41 to turn medium term #bullish.
The #Strategy is printed on the image.
LKNCY 3/3
The #Strategy is printed on the image.
LKNCY 3/3
THREAD: The definitive story on #luckincoffee. My monthslong investigation into $LK's books and public records details how the onetime highflying $Sbux slayer fabricated transactions. via @wsj wsj.com/articles/behin…
It's a long read but it will be worth ur time. $LK primarily faked sales and expenses with companies connected to chairman Charles Lu, $CAR, Ucar, a fictitious employee called Lynn Liang. These companies bought large volumes of coffee vouchers that could be redeemed for coffees.
These orders sometimes came at wee hours. No coffees were actually made or sold. They also made over $140m payments to fake suppliers, some of them also linked to Lu's classmate Wang Baiyin. CEO Qian personally approved or saw to these payments, which led to her firing.
