Luckin Coffee, the up-start coffee chain once touted as a rival to Starbucks in China, is being delisted by the Nasdaq stock exchange. The 3-year-old company, which raced to open 6,500 stores across China since its 2017 founding, received a notice from Nasdaq last Friday that its shares were being pulled.
According to Luckin, which shared the news of its delisting on Tuesday, Nasdaq cited “public interest concerns” following the company’s recent accounting scandal as the key reason it’s being delisted.
The Nasdaq suspended trading in the former unicorn on April 7, five days after an internal investigation uncovering massive
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