Chinese coffee chain Luckin Coffee (LKNCY) is running out of time to restructure its convertible debt, and get its business model right, according to John Zolidis, president of Quo Vadis Capital. As a result, he thinks the stock is overvalued, and rates it a Sell. "LKNCY has not provided audited financials for any period post-2019," he said. "Also, the stock has recently become impacted by a rule that prevents some brokers from allowing orders (other than closing transactions) or providing quotes. Our view remains that the market cap is too high relative to the profit potential (thus far unproven) of this business.
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Luckin Coffee (PK) (USOTC:LKNCY)
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