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Luckin Bankrupt. Ho ho ho
- Thread starter pvtpublic
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NB what a fucking lazy thread. No head no tail. Just say Luckin bankrupt. Cheebye at least include an article link la. KNN, want us to fuck your wife too if you are lazy?
https://www.barrons.com/articles/lu...ruptcy-the-stock-could-go-to-zero-51612545895
Luckin Coffee Is Filing for Bankruptcy. The Stock Could Go to Zero.
By Al Root
Updated Feb. 5, 2021 2:24 pm ET / Original Feb. 5, 2021 12:24 pm ET
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The Chinese chain said it is negotiating with stakeholders to restructure its balance sheet.
Fred Dufour/AFP via Getty Images
Luckin Coffee is filing for bankruptcy protection. It’s another step in the convoluted saga of the embattled Chinese retail chain.
Usually a bankruptcy makes a company’s stock worthless—eventually. Luckin (ticker: LKNCY) stock, however, was trading for more than $12 before the announcement and was still north of $7 Friday, after the news.
That gives the coffee chain a market capitalization of about $1.6 billion. What is going on? Is there $1.6 billion in value left in Luckin for existing shareholders, and should people consider investing in the troubled company?
Luckin has had a rough run. Last February, the company denied reports it had inflated its sales, but by April it had formed a committee to investigate the claims. In May, the management changed, and in July, the company said 2019 sales had been inflated by more than $300 million.
The answer to both questions—whether there is $1.6 billion of value in the company and whether investors should look again at the stock—is almost certainly not. There are still stores. But the company’s management is new. Luckin’ hasn’t filed financial statements in a long time, and no more analysts follow the stock.
There is almost no way for any typical U.S. investor to know what is going on. That’s not a recipe for investment success. Quo Vadis Capital, an independent registered investment advisor, said in a Friday report that the stock is likely going to zero.
Luckin didn’t comment on its stock price, but did refer Barron’s to a statement indicating the Chapter 15 filing is routine “in the context of Cayman restructuring...and should not be confused with a terminal bankruptcy process involving the winding down, sale or liquidation of the company.” Luckin is incorporated in the Cayman Islands.
Luckin faces legal action in the U.S. as investors seek to recoup losses incurred as a result of its financial misstatements. That is likely a factor behind its decision to file for Chapter 15 bankruptcy protection.
Investors might be familiar with Chapter 11, the typical filing for a U.S. bankruptcy. Chapter 15 is similar, but for foreign firms. Luckin operates in China even though its shares trade in the U.S.
“The Company is negotiating with its stakeholders regarding the restructuring of the Company’s financial obligations, to strengthen the Company’s balance sheet and enable it to emerge from the Cayman Proceeding as a going concern, for the benefit of all stakeholders,” reads the company’s Friday news release. The Cayman proceeding is a restructuring effort the company disclosed in July.
“Stakeholders” and “shareholders,” importantly, are not synonyms. Shareholders are one group of a company’s stakeholders, along with debtholders, suppliers, employees, and others. Although companies may emerge from bankruptcies as a “going concern,” selling coffee and croissants in Luckin’s case, reorganization plans generally involve the cancellation of existing shares. Creditors, not shareholders, are paid from a company’s existing assets.
Even if a company manages to list shares again, the amount of shares outstanding will be very different and the creditors will end up with the lion’s share of the reorganized company.
Luckin stock doesn’t trade on an exchange any longer. Shares trade in the “over-the-counter,” or OTC market. Two parties—through brokers—can still exchange stock, but it isn’t the same as trading on an exchange. For one thing, neither party—the buy and the seller—can readily look up credible quotes in an OTC setting. And an OTC trade is between two parties. On an exchange, market makers are aggregating orders for many market participants.
Trading of Luckin stock in now in the domain of professional investors with bankruptcy experience or traders looking to make a fast dollar buying or selling a volatile stock. For the rest of the investment community, it’s just a story to watch and not a stock to invest in.
https://www.barrons.com/articles/lu...ruptcy-the-stock-could-go-to-zero-51612545895
Luckin Coffee Is Filing for Bankruptcy. The Stock Could Go to Zero.
By Al Root
Updated Feb. 5, 2021 2:24 pm ET / Original Feb. 5, 2021 12:24 pm ET
- Order Reprints
- Print Article
BARRON'S NEWSLETTERS
The Barron's Daily
A morning briefing on what you need to know in the day ahead, including exclusive commentary from Barron's and MarketWatch writers.
I would also like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time.
I agree to the Privacy Policy and Cookie Policy.
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Text size
The Chinese chain said it is negotiating with stakeholders to restructure its balance sheet.
Fred Dufour/AFP via Getty Images
Luckin Coffee is filing for bankruptcy protection. It’s another step in the convoluted saga of the embattled Chinese retail chain.
Usually a bankruptcy makes a company’s stock worthless—eventually. Luckin (ticker: LKNCY) stock, however, was trading for more than $12 before the announcement and was still north of $7 Friday, after the news.
That gives the coffee chain a market capitalization of about $1.6 billion. What is going on? Is there $1.6 billion in value left in Luckin for existing shareholders, and should people consider investing in the troubled company?
Luckin has had a rough run. Last February, the company denied reports it had inflated its sales, but by April it had formed a committee to investigate the claims. In May, the management changed, and in July, the company said 2019 sales had been inflated by more than $300 million.
The answer to both questions—whether there is $1.6 billion of value in the company and whether investors should look again at the stock—is almost certainly not. There are still stores. But the company’s management is new. Luckin’ hasn’t filed financial statements in a long time, and no more analysts follow the stock.
There is almost no way for any typical U.S. investor to know what is going on. That’s not a recipe for investment success. Quo Vadis Capital, an independent registered investment advisor, said in a Friday report that the stock is likely going to zero.
Luckin didn’t comment on its stock price, but did refer Barron’s to a statement indicating the Chapter 15 filing is routine “in the context of Cayman restructuring...and should not be confused with a terminal bankruptcy process involving the winding down, sale or liquidation of the company.” Luckin is incorporated in the Cayman Islands.
Luckin faces legal action in the U.S. as investors seek to recoup losses incurred as a result of its financial misstatements. That is likely a factor behind its decision to file for Chapter 15 bankruptcy protection.
Investors might be familiar with Chapter 11, the typical filing for a U.S. bankruptcy. Chapter 15 is similar, but for foreign firms. Luckin operates in China even though its shares trade in the U.S.
“The Company is negotiating with its stakeholders regarding the restructuring of the Company’s financial obligations, to strengthen the Company’s balance sheet and enable it to emerge from the Cayman Proceeding as a going concern, for the benefit of all stakeholders,” reads the company’s Friday news release. The Cayman proceeding is a restructuring effort the company disclosed in July.
“Stakeholders” and “shareholders,” importantly, are not synonyms. Shareholders are one group of a company’s stakeholders, along with debtholders, suppliers, employees, and others. Although companies may emerge from bankruptcies as a “going concern,” selling coffee and croissants in Luckin’s case, reorganization plans generally involve the cancellation of existing shares. Creditors, not shareholders, are paid from a company’s existing assets.
Even if a company manages to list shares again, the amount of shares outstanding will be very different and the creditors will end up with the lion’s share of the reorganized company.
Luckin stock doesn’t trade on an exchange any longer. Shares trade in the “over-the-counter,” or OTC market. Two parties—through brokers—can still exchange stock, but it isn’t the same as trading on an exchange. For one thing, neither party—the buy and the seller—can readily look up credible quotes in an OTC setting. And an OTC trade is between two parties. On an exchange, market makers are aggregating orders for many market participants.
Trading of Luckin stock in now in the domain of professional investors with bankruptcy experience or traders looking to make a fast dollar buying or selling a volatile stock. For the rest of the investment community, it’s just a story to watch and not a stock to invest in.
Ah u see... that is a meaningful contribution... show the stock price movement over NASDAQ.
Here's the stock movement from Day 1 until today
Here's the stock movement from Day 1 until today
Starbucks shit coffee will be next to go bankrupt... coffee is coffee at kopitam is good enough.
More Chinese companies will become kaput. Expect delisting from the stock exchange etc.
As of 2 Oct 2020, there are 217 commie companies. Alibaba tops the list.More Chinese companies will become kaput. Expect delisting from the stock exchange etc.
https://www.uscc.gov/sites/default/files/2020-10/Chinese_Companies_on_US_Stock_Exchanges_10-2020.pdf
Avoid any chinese owned and managed companies unless majority of shareholders are foreigners like ali baba.
NB what a fucking lazy thread. No head no tail. Just say Luckin bankrupt. Cheebye at least include an article link la. KNN, want us to fuck your wife too if you are lazy?
https://www.barrons.com/articles/lu...ruptcy-the-stock-could-go-to-zero-51612545895
Luckin Coffee Is Filing for Bankruptcy. The Stock Could Go to Zero.
By Al Root
Updated Feb. 5, 2021 2:24 pm ET / Original Feb. 5, 2021 12:24 pm ET
- Order Reprints
- Print Article
BARRON'S NEWSLETTERS
The Barron's Daily
A morning briefing on what you need to know in the day ahead, including exclusive commentary from Barron's and MarketWatch writers.
I would also like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time.
I agree to the Privacy Policy and Cookie Policy.
SIGN UP
Text size
The Chinese chain said it is negotiating with stakeholders to restructure its balance sheet.
Fred Dufour/AFP via Getty Images
Luckin Coffee is filing for bankruptcy protection. It’s another step in the convoluted saga of the embattled Chinese retail chain.
Usually a bankruptcy makes a company’s stock worthless—eventually. Luckin (ticker: LKNCY) stock, however, was trading for more than $12 before the announcement and was still north of $7 Friday, after the news.
That gives the coffee chain a market capitalization of about $1.6 billion. What is going on? Is there $1.6 billion in value left in Luckin for existing shareholders, and should people consider investing in the troubled company?
Luckin has had a rough run. Last February, the company denied reports it had inflated its sales, but by April it had formed a committee to investigate the claims. In May, the management changed, and in July, the company said 2019 sales had been inflated by more than $300 million.
The answer to both questions—whether there is $1.6 billion of value in the company and whether investors should look again at the stock—is almost certainly not. There are still stores. But the company’s management is new. Luckin’ hasn’t filed financial statements in a long time, and no more analysts follow the stock.
There is almost no way for any typical U.S. investor to know what is going on. That’s not a recipe for investment success. Quo Vadis Capital, an independent registered investment advisor, said in a Friday report that the stock is likely going to zero.
Luckin didn’t comment on its stock price, but did refer Barron’s to a statement indicating the Chapter 15 filing is routine “in the context of Cayman restructuring...and should not be confused with a terminal bankruptcy process involving the winding down, sale or liquidation of the company.” Luckin is incorporated in the Cayman Islands.
Luckin faces legal action in the U.S. as investors seek to recoup losses incurred as a result of its financial misstatements. That is likely a factor behind its decision to file for Chapter 15 bankruptcy protection.
Investors might be familiar with Chapter 11, the typical filing for a U.S. bankruptcy. Chapter 15 is similar, but for foreign firms. Luckin operates in China even though its shares trade in the U.S.
“The Company is negotiating with its stakeholders regarding the restructuring of the Company’s financial obligations, to strengthen the Company’s balance sheet and enable it to emerge from the Cayman Proceeding as a going concern, for the benefit of all stakeholders,” reads the company’s Friday news release. The Cayman proceeding is a restructuring effort the company disclosed in July.
“Stakeholders” and “shareholders,” importantly, are not synonyms. Shareholders are one group of a company’s stakeholders, along with debtholders, suppliers, employees, and others. Although companies may emerge from bankruptcies as a “going concern,” selling coffee and croissants in Luckin’s case, reorganization plans generally involve the cancellation of existing shares. Creditors, not shareholders, are paid from a company’s existing assets.
Even if a company manages to list shares again, the amount of shares outstanding will be very different and the creditors will end up with the lion’s share of the reorganized company.
Luckin stock doesn’t trade on an exchange any longer. Shares trade in the “over-the-counter,” or OTC market. Two parties—through brokers—can still exchange stock, but it isn’t the same as trading on an exchange. For one thing, neither party—the buy and the seller—can readily look up credible quotes in an OTC setting. And an OTC trade is between two parties. On an exchange, market makers are aggregating orders for many market participants.
Trading of Luckin stock in now in the domain of professional investors with bankruptcy experience or traders looking to make a fast dollar buying or selling a volatile stock. For the rest of the investment community, it’s just a story to watch and not a stock to invest in.
thank you for your hard work.
I was feeling lazy indeed this morning.
thank you for your hard work. much appreciated from a lazy bum this morning.
starbucks will last longer than the CCP. we will have starbucks on Mars but no commies for sure.
no worries mate!
Gentle reminder that Ho Ching had invested in Luckin Coffee... just one of the many Tiong companies. 
Better raise the GST (Get Sodomised Today) to 20% and quickly recoup all that money.
GIC-backed Luckin Coffee burns investors in 39% plunge from high after IPO
MAY 24, 2019
https://www.businesstimes.com.sg/ga...ns-investors-in-39-plunge-from-high-after-ipo
The Tiong investment company 'Centurium Capital' convinced Temasek and GIC (and other investors from around the world) to invest in Luckin Coffee.
http://www.fortunetimes.sg/cn/?p=20195
https://www.centurium.com
https://www.centurium.com/en/
This guy Li Hui 黎辉 was in charge of Centurium Capital.
Better raise the GST (Get Sodomised Today) to 20% and quickly recoup all that money.
GIC-backed Luckin Coffee burns investors in 39% plunge from high after IPO
MAY 24, 2019
https://www.businesstimes.com.sg/ga...ns-investors-in-39-plunge-from-high-after-ipo
The Tiong investment company 'Centurium Capital' convinced Temasek and GIC (and other investors from around the world) to invest in Luckin Coffee.
http://www.fortunetimes.sg/cn/?p=20195
https://www.centurium.com
https://www.centurium.com/en/
This guy Li Hui 黎辉 was in charge of Centurium Capital.
luckin looking for a fuckin on monday morning.
Fuck off lawyers infested JBArseUSA , JoeBidenArsetration.... VP she is a lawyer infested JBArsetration..
Winners nick u...
Winners nick u...
Auntie Ho got buy?
Yes. Thsts why PAP has decided to go to india. Land of milk and honey.Gentle reminder that Ho Ching had invested in Luckin Coffee... just one of the many Tiong companies.
Sembcorp Energy India wins 400MW Capacity Solar Power Project
India, Jan 08, 2021
- With this win, Sembcorp Industries ups renewables portfolio to over 3,000MW in operation and under development
Sembcorp Energy India Limited (SEIL), a wholly owned subsidiary of Sembcorp Industries (Sembcorp), announces that it has recently won a new 400MW solar power project. Through its renewables subsidiary, Sembcorp Green Infra, SEIL won this bid in a closely contested auction conducted by the Solar Energy Corporation of India (SECI).
SEIL has received the letter of award from SECI to develop the project in Rajasthan, a region in northern India. It will be connected to the state’s transmission utility Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN). The project’s entire output will be sold to SECI under a 25-year long-term power purchase agreement. It is expected to be ready for commercial operation by mid-2022. The project will be funded through a mixture of internal funds and debt.
Wong Kim Yin, Group President & CEO, Sembcorp Industries, said: "Sembcorp is committed to providing sustainable solutions. We are pleased to secure the 400MW utility scale solar project in Rajasthan, another step towards transforming our portfolio. Sembcorp has an established track record in delivering world-class power projects. This is backed by our strong capabilities in development, execution and operations. India is a key market and we will continue to provide sustainable solutions to contribute to the nation’s clean energy mission.”
SEIL is the first independent power producer to have completed the commissioning of 800MW of wind projects awarded from three earlier SECI bids.
don;t know by the time my turn to retire CPF money still there or flunk totally by temasek
Likely, they pay as back in worthless Rupee
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