I've been doing some research concerning the reason for Luckin Coffee's halt. The NASDAQ is requesting additional information and from past experience, only affords a company a certain amount of time to comply. So it's completely up to LK at this point, to comply with NASDAQ's request.
If LK doesn't comply within the timeframe allotted, then I can see LK getting delisted down to the OTCQX or OTCQB.
With 4,500 locations and a dominant player in the coffee space in China, I think it's a shame that the ADR shares were halted. They should have halted them then re-opened them so that as information disseminates, the shares can trade accordingly.
I bought shares in the high and mid $4 range then got stuck in the halt like many here. We could be halted for days or weeks and if LK doesn't comply within NASDAQ's timeframe, then NASDAQ has the right to delist the shares.
Hoping that LK complies and that their earnings/revenue overstatements are cleared up and a fair valuation can be placed on the shares once their audit concludes
Clearly LK is worth more than $5/share
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