Exposed! Luckin’ Coffee Scam - What We Can Learn (Ep. 60)

Luckin Coffee is a Chinese Starbucks competitor that has been taking China by storm. By January 2020, that’s only 2 years since opening their first store, they had a total of 4,507 stores, making them the largest coffee chain in China, surpassing even Starbucks. However, on April 2nd Luckin Coffee announced that an internal investigation found that its chief operating officer, Jian Liu, and several others, had fabricated the company's 2019 sales by "around RMB2.2 billion" or $310 million USD. Trading of the stock has since been halted on the U.S. exchange. In this video I share lessons of what we can learn from the Luckin Coffee disaster. Articles shared in video: https://finance.yahoo.com/quote/LK/ https://www.cnbc.com/video/2018/07/19/chinas-homegrown-luckin-coffee-takes-on-starbucks.html http://investor.luckincoffee.com/static-files/fad0e07a-ac5a-4881-9ff3-fdc6af395f6f https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=13752710&RcvdDate=11/20/2019&CoName=LUCKIN%20COFFEE%20INC.&FormType=6-K&View=html https://drive.google.com/file/d/1LKOYMpXVo1ssbWQx8j4G3-strg6mpQ7F/view https://www.reuters.com/article/us-luckin-investigation-timeline/luckin-coffees-journey-from-hot-startup-to-5billion-share-wipeout-idUSKBN21L1HW https://www.cnbc.com/2020/04/02/luckin-coffee-stock-plummets-after-investigation-finds-coo-fabricated-sales.html https://www.cnbc.com/2020/04/03/luckin-coffee-debacle-is-a-painful-reminder-of-fraud-risk.html https://www.fool.com/investing/2020/04/03/should-i-sell-luckin-coffee.aspx https://www.benzinga.com/news/20/04/15753833/luckin-stock-drops-further-as-lenders-seek-to-seize-76-4m-shares-for-defaulted-loan Follow me on Twitter: https://twitter.com/heydave7 Follow me on Instagram: https://www.instagram.com/heydave7 An Alternative Plan to Mitigate the Spread of COVID-19 and Get Americans Back to Work - https://medium.com/@heydave7/an-alternative-plan-to-mitigate-the-spread-of-covid-19-and-get-americans-back-to-work-d1c18c052bf0 Watch this video on what a 10x company is, https://www.youtube.com/watch?v=r9HtG-jJSTY Watch this video on how new tech goes mainstream, https://youtu.be/gVsFsydllNo Check out my archived articles/posts on Tesla and investing: https://teslamotorsclub.com/tmc/threads/articles-megaposts-by-davet.23473/#post-485768 Disclaimer: All content on this channel is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of information on this channel. Author is long TSLA at time of original video publish date. Tags: Tesla, TSLA, Elon Musk, Model 3, Model Y, Cybertruck, Investing

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