Luckin Coffee (OTCMKTS:LKNCY) stock is on the move Thursday as the disgraced Chinese coffee chain plans a return to the Nasdaq Exchange.
Let’s go over that news below with all the details potential investors in LKNCY stock need to know.
- Recent reports from two unnamed sources claim Luckin Coffee’s leadership is considering relisting on the Nasdaq.
- These sources say that Luckin Coffee has been meeting with investors and advisors to discuss the potential return.
- One factor pointed out is growing sales that could act as an incentive for investors to buy the stock.
- A relisting will also face fewer regulator issues due to the company still listing shares in the U.S.
- It’s also continued to post earnings reports, which is another boon toward a relisting effort.
- Plus, the company’s already gone through bankruptcy filings while it reorganized its business.
- Of course, Luckin Coffee isn’t just considering a relisting to raise funds.
- The company is also reportedly exploring other possible options for raising capital.
- If executives stick to current plans, then it’s possible investors will see the coffee chain return to the Nasdaq before the end of the year.
- Luckin Coffee isn’t commenting on the reports it wants to return to the Nasdaq.
LKNCY stock is seeing heavy trading today on the relisting report. As of this writing, more than 3 million shares of the stock have changed hands. That’s above the company’s daily average trading volume of 1.4 million shares.
LKNCY stock is down 5.7% as of Thursday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.