image credit: N509FZ / Wikimedia
Luckin Coffee has been making a splash in the news for its meteoric growth, but its success appears to have been artificially inflated by members of the company who engaged in processing fake transactions. Two months ago, a Muddy Waters report expressed doubt about the brand’s operational metrics and questioned the integrity of its reporting. Luckin has yet to file its financial report for Q4 2019, which will no doubt undergo heavy scrutiny.
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