Kulkarni is bullish on the company, following a recent rebound in business and some cost cutting. Luckin Coffee Inc. said Friday that it will be delisted from the Nasdaq. +0.46% In a note Friday, MKM Partners analyst Rohit Kulkarni believes the San Francisco-based company could kick off its IPO roadshow after Thanksgiving and possibly start trading as a public company in the second week of December. She also worked at Mediabistro, and previously handled media relations for MSLGroup’s consumer practice. Tonya Garcia is a MarketWatch reporter covering retail and consumer-oriented companies. You can follow her on Twitter @tgarcianyc. Shares of the company plunged 50% following the news. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Copyright © 2020 MarketWatch, Inc. All rights reserved. It's not clear what's next for Luckin now that it will no longer have access to the stock market to raise new capital. Luckin Coffee previously said it received two written notices from the Nasdaq Stock Market indicating the grounds of its decision to delist … Luckin Coffee Inc. lk said Friday that it will be delisted from the Nasdaq. Subscriber Agreement & Terms of Use, All times are ET. New York (CNN Business) China's Luckin Coffee (LK) had hopes of being as successful with American investors as its rival Starbucks. lk Chinese government halts Ant Group's giant IPO, China expected to be the only major economy to grow in 2020, How China's Ant Group built a $17 trillion payments machine, Hear from Australian journalists after evacuation from China, US considers restrictions on China's largest chipmaker, Why Trump's war on WeChat could hurt American businesses, HSBC may have to choose between China and the West, Mars is the latest arena in US-China rivalry, Hong Kong's business world divided over national security law, The moral dilemma of doing business in China, explained, China censors a lot, from Winnie the Pooh to the NBA, Why American fast food chains will do anything to win in China, which fired its CEO and chief operating officer in May, Luckin Coffee co-founder apologizes for accounting scandal and promises fight to save the company. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The company initially said last month that it was, Investors lapped up the stock, betting that Luckin would become a legitimate homegrown rival to. Most eyes in the tech IPO market are trained on Airbnb Inc. undefined, whose richly anticipated public offering could raise as much as $1 billion before the end of the year. Most stock quote data provided by BATS. Updated 1750 GMT (0150 HKT) June 26, 2020. She is based in New York. But following an accounting scandal, Luckin … Disclaimer. New York (CNN Business)China's Luckin Coffee (LK) had hopes of being as successful with American investors as its rival Starbucks. And this may be it for Luckin stock. Airbnb reported revenue of $1.34 billion for this year’s third quarter -- its second-biggest quarter ever. Trump blames his loss on ‘big massive dumps’ — and is now reportedly planning to kick off a 2024 campaign during Biden’s inauguration. rival, received two notices from the Nasdaq about its failure to adhere to listing rules. The Beijing-based coffee purveyor and Starbucks Corp. Luckin Coffee discloses Nasdaq wants to delist the company It’s the company that just can’t catch a break! Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. As of late last year the company had 3,680 stores. Intraday Data provided by FACTSET and subject to terms of use. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Historical and current end-of-day data provided by FACTSET. Privacy Notice and By using this site you agree to the Luckin Coffee (OTCMKTS: LKNCY) was delisted from the Nasdaq Exchange last week. Intraday data delayed at least 15 minutes or per exchange requirements. What is more, he predicts year-over-year sales growth of 30% to 60% in 2021. All rights reserved. But following an accounting scandal, Luckin is now heading to Wall Street's graveyard. The day before, Luckin withdrew the hearing request and the company's shares will be suspended at the open of business on Monday. What if I'm in my 40s and don't have a retirement fund? All rights reserved. All quotes are in local exchange time. However, bankruptcy rumors have been swirling in light of the scandal. Cookie Notice. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Tonya joined MarketWatch from Moguldom Media, where she was business editor for MadameNoire, a website targeting African-American women with a range of content from personal finance to economics, politics, education and lifestyle and entertainment. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Kulkarni predicts Airbnb's 2021 bookings could exceed 2019 levels. Airbnb IPO could go public as early as mid-December: analyst, Roblox IPO: 5 things to know about the tween-centric gaming platform, Tesla become sixth-largest U.S. company, surpassing Warren Buffett's Berkshire Hathaway, Biden twists an ankle playing with his dog, visits doctor, Biden picks an all-female senior White House press team, U.K. stocks up on coronavirus vaccines, hopes to start giving shots within days. Factset: FactSet Research Systems Inc.2018. Luckin stock fell more than 32% in Friday premarket trading after the delisting news. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. 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