Luckin Coffee Inc (LKNCY)

[Smilin_B]

Lol +300% since being delisted and all the fools sold it all the way down to what, $0.95?

I just wonder if all the big financial institutions dumped. I hope they did because they will all be scurrying back in once they realize this company is going to regain its footing with all new management.

[trainer2]

Not necessarily. This stock was 52.00 i think just a few weeks ago. Lots of room to run.

[muneeflo]

without an update, we should see a pullback. I hope not, but it's up 300% since being delisted.

[Bona Vista]

Would love to see if LKNCY can HOLD this area tomorrow morning, and then continue to move HIGHER.

No doubt the stock wants to stabilize itself at a pre-determined price that the company believes it wants it to be, at that point those in control will then dictate where it goes from there.

Hopefully, there won't be any major negative surprises along the way, but, of course nothing ever goes the way one thinks.

[Halks1122]

If that wall at $3.30 gets taken out I’m thinking we’ll see a HOD close. Otherwise I’m thinking it’ll settle around the $3.25 range. That’s roughly where the SMA is.

[DM797]

Nice bounce back. Think this settles closer to $3.18. This think could jump at any time back to IPO $17 once confidence is restored. Either people will have shares or won’t. There won’t be any notice.

[Farmer_D]

I'm surprised by this activity today as the British market was boring this morning. But I will take it.

bd

[DM797]

VWAP bounce here?

[food4thought]

These are fundamental beta events. TA has a place once the dust settles. For now Luckin will trade around risk assessments.

[DM797]

Agreed. And shorts covered on massive dip in AH trading. I’d expect them to do it again.

[Bona Vista]

NO ONE can predict the outcome in LKNCY at this time, from the looks of it I believe the SHORTS have, are or will be covering their positions sooner than later.

Personally, I don't expect to HOLD ON till the end of LKNCY's issues are resolved, however, this company's stock price has a lot more to run.

[Stockrocketer]

Higher highs are changing the scenario a little bit, but the nearing of Williams%R -20 means the Growth appears to be by the End. 80% of examples did show mentioned curve behavior, on 20% was a sudden jump more than plus 30%, but than a shellfall as usually.

[DM797]

Not sure what this means. But I’ll take my $1-$5 run

[Stockrocketer]

The "flattening" and "shelfing" of Share Price never means a good sign, they are ringing bells around the bulls, shorts are on highness of power, I will not wonder if LKNCY dips to $2 and under. Bad omen for a next week minimal. It´s better to take 100% premium than 33% only, when the worst scenario occurs and shareholders payout can reach 4 USD per Share. Technical it will step up to Williams%R 20 breaking slowly hard shorting resistance and confirms the 3,15 USD High and dips afterward immediately by shocking shelffall. Still not luck in Luckin Cofeee.

[DM797]

Very nice! This thing always has the ability to go parabolic. We won’t know when, but need to be in to enjoy the ride.

[JustBegin]

Nice!

[DM797]

Looks like we had a massive dip for shorts to cover and are breaking $3 pre market today. See how it does at open. My bet abut if a run today finishing in the $3.05-$3.10 range.

[Stockrocketer]

You see, Lu is out and game is playing so far "HOMBRE" MAYBE TO 10 DOLLARS AND maybe no!

[Farmer_D]

I read that as the court ruling is already done and gave authorization to the two Trusts to liquidate. If correct, then I guess just more shares that aren't locked up in a trust. Share price should trade normally, which won't be much without news on what the company is doing now. So I guess we aren't waiting for a new court ruling. IMO

bd

[xgin]

Hey guys, we did have the wrong court. From a new article dated July 7th " On July 6, the British Virgin Islands Commercial Court will hear Credit Suisse’s request against Haode (holding 23.94% of Ruixing) and the entity controlled by former CEO Qian Zhiya of Summer Fame Limited (holding 15.43% of Ruixing Shares) application for liquidation. As of press time, the verdict has not been announced."

Here's why I thought it was the Cayman Islands: "On June 16, the Cayman Islands Court ruled that in view of Lu Zhengyao’s failure to repay approximately $324 million in debt by June 1, 2020, many lenders such as Credit Suisse have the right to liquidate the Primus Investments Fund and the Lu Zhengyao family’s control. Mayer Investments Fund. In addition to Primus, Lu Zhengyao's family trust Haode Investment also faces the risk of being liquidated."

[trainer2]

I notice your go positive then to negative on this company more than once. You must want to buy more shares at a lower price. IMO there is no reason for this stock to decline tomorrow.

[Farmer_D]

I think we will gap up a bit (3.15-3.25) and slowly drift down to even or just below tomorrow if there is no news. If we get news about anything relevant, who knows. I'm curious to see peoples theories on what the share price will do based on what comes out of the Caymans.

I'm hoping for double digits long term (<12 months), but don't want to throw out random ridiculous numbers. I think the company needs to build confidence in traders before that is going to happen. Maybe a couple or few audited earnings reports, and moving back to NASDAQ would be great for confidence (maybe anyway), IMO. Of course the sooner the share price is where I want it the better :)

bd

[Bona Vista]

Totally agree with your thoughts, that is why I believe it's going to take longer than most think for LKNCY to begin moving HIGHER,that's if it ever does as most here are hoping for.

[muneeflo]

Just need a little patience here. Next shoe to drop will be the Caymen Islands results, then we wait, probably couple of weeks or more for the audit results. Even if it drifts lower, with positive news can go up quickly. 3.00 was a big barrier before the last big run when it ran to 6.79. All the round numbers are resistance, 4.00, 5.00. 6.79 then 7.00 will be a huge resistance as well. imo

[Bona Vista]

Anyone care to take a guess on tomorrow's LKNCY trading, I believe the price remains in this area with a tilt to a little LOWER price.

For this to get above $3.00 and stay there, and then go HIGHER will require some major positive NEWS.

[Lcbm68]

16% UP ON THE DAY THUS FAR IS A GOOD START TO THE WEEK - THIS IS JUST BEGINNING SO LOOK AHEAD FOR A DIP HERE AND THERE, BUT IN THE MAIN ITS GOING UP, THEN UP IN COMING THREE WEEKS BEFORE BEING STABLE FOR A WHILE...NOWS THE TIME TO BUY.....LOCK IN NOW AND MAKE THE NEXT 30%

LCBM68

[Farmer_D]

Ah. I did notice on stocktwits someone mentioned it may be a holiday there today. Maybe tomorrow. Thanks!

bd

[xgin]

The problem is the court is closed for "Constitution Day". A couple of us on StockTwits have been trying to track down the court case.

[Farmer_D]

I think the low activity may be because people are waiting for the results of the Cayman Court. I'm not sure how the outcome will affect the stock. I'm looking for any report that came out of the court hearing.

bd

[Bona Vista]

I'll be happy if LKNCY closes the day right here, however, because I don't see any real heavy BUYING so far that may NOT be the case.

[Farmer_D]

Strange article in that it mentions "Much of Lu’s worth has been decimated by the plunge in Luckin’s market value. Shares of Luckin were halted from trading last week, and likely to be delisted from Nasdaq soon."

Uh, they have been delisted. Weird.

bd

[DM797]

I’m grabbing more today. I think this goes to $5-6 easily within a week or two. Long term this can get back to $10-20 no problem.

[xgin]

Not so sure that's the way it's going to work out. This all happens 10:30AM EDT. Lu losing all his shares (though totally expected)would affect the action I would think.

Reposting just in case the bears are out there trying to make hay out of Lu getting more control of the board he though he's gone.
Translated with chrome: Earlier, Luckin Coffee's lenders Morgan Stanley , Goldman Sachs Group and Barclays Bank submitted a liquidation application to another investment company held by the Lu Zhengyao Family Trust Fund in the British Virgin Islands, which will open on July 6. If the court supports the above financial institution's application, Lu Zhengyao will lose control of Ruixing Coffee, and Dazheng Capital will become Ruixing Coffee's largest shareholder.

Affected by this, Lu Zhengyao originally planned to reorganize the board of directors one day before the court session to strengthen the control of Ruixing Coffee. But now, Li Hui, Liu Erhai and others have started to fight back.

[Matt1963]

https://www.scmp.com/business/china-business/article/3091968/luckin-coffee-co-founder-charles-lu-tightens-grip-boardroom?onboard=true

[Bona Vista]

At this moment all seems to be normal without any unusal activity or excitement to jump into LKNCY, personally, I really don't see any reason for over exaggeration as to any major jump in LKNCy's price today.

I do believe there might be a little more volume traded because of Mr. Lu being DUMPED, and the anticipation of what will be on the horizon other then that, I expect trading as normal and hopefully a HIGHER close.

[Lcbm68]

Today its going to scream all the way to 3.12 - 3.25, the go down and sideways until one hour from closing and then we will see 3.29 - 3.37

All in all a powerful and often mad buying spree all from the first minute of opening

Share price ends at on or around 4.35 by COB Friday then stays at around that price range for a week or more, then a possible 5.18 by month end

That's my prediction.lcbm68

[Bona Vista]

Thanks for your insight, much appreciated.

[Smilin_B]

It's going to go up

Its going to go down

Its going to go sideways

Some people will sell

Some people will buy

[Bona Vista]

Anyone have thoughts about this week's trading for LKNCY, NOT sure what to expect with all what has been going on most recently.

[Smilin_B]

Take your bipolar meds

[MoneyMan123]

Awesome!

[food4thought]

Looking good .....

German market likes the move. Bell ring gapper coming.

[food4thought]

Thoughts on how stripped shares get ledgered?

My initial thought is that this has a profound positive impact on the balance sheet similar to a large buy back. Or would his shares get liquidated to payback ipo investment bank losses? His massive share stake will have a huge impact on share price in how this gets settled.

[xgin]

He's going to be stripped of his shares (99% chance IMHO)and will probably go to jail.

[Farmer_D]

I figure if you are open, honest, and doing things right to the best of your knowledge, you would have no problem cooperating fully. Reading that Lu wasn't cooperating gave me a bad thought of him and I voted him out. Sure hope that was the correct move for a shareholder position.

bd

[xgin]

Why I'm happy Lu is gone and hope he forfeits his shares tomorrow.
"https://seekingalpha.com/news/3588564-luckin-chairman-knew-should-known-fabricated-deals-wsj?mail_subject=lk-luckin-chairman-knew-or-should-have-known-about-fabricated-deals-wsj&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha

"Luckin chairman knew or should have known about fabricated deals - WSJ
Jul. 5, 2020 11:28 AM ET|About: Luckin Coffee Inc. (LK)|By: Liz Kiesche, SA News Editor

An investigation conducted by a special committee of Luckin Coffee's (NASDAQ:LK) board concludes that the company's chairman, Charles Lu, knew or should have known about bogus transactions that inflated the Chinese coffee chain's sales last year, the Wall Street Journal reported, citing a person familiar with the matter.

A report describing the investigation also said that Lu didn't fully cooperate with the investigation.

The probe said Lu was aware of certain related-party transactions that weren't properly disclosed, the person said."

[cono-sur]

“after July 6th, once Lu Zhengyao's shares are liquidated, Dazheng Capital will become the largest shareholder”

IMO After todays news, in Dazheng Capitals position, or any of the other new shareholders, id be buying more.

[food4thought]

I read this news as a positive, don’t you? I would think the market would see it that way as well. Clearly Monday morning major volatility coming and an opening bell gap move. My guess would be to the upside. We shall see.

Certainly the press has their way of spinning things, but moving forward with clarity and removing the cancers and greed from the company thru shareholder majority should create some strength in the stock. Just my opinion, but I see this only as a good path forward, minus further indiscretions disclosed from the E&Y audit, which could create some near term downside pressure.

But again, comparing the current market cap with its pre-fraud IPO valuation, and given the potential growth possibilities amid the top brass douching, the company has to be in far better shape going forward than it was just a few months ago.

[xgin]

We should get some (probably negative) exposure on CNBC, Fox Business, and Bloomberg tomorrow. Maybe Bloomberg tonight. Also we'll probably end up with some trading halts tomorrow. https://otce.finra.org/otce/tradingHalts

[food4thought]

Yeah, I guess that’ll give us an indication where we’re headed.