With all the latest that came out from Luckin Coffee do people think will happen with its stock?
Will it stay online or will it be removed?
Another scandal came out today about its chairman now facing criminal proceedings for the fraud its committed.
Been on a short for this but, although sell price has moved down considerably the buy price seems to be either standing still or moving up which is strange
Lost a couple of grand on this from my stop loss triggering too early. Lesson learned - set stop loss further. Worst of all, it tanked as expected and I would have made a few g profit.
Anyway - bottom line is this is a total p.o.s. company. Banks have withdrawn all funding, the CEO is being done for fraud, the company was put on hiatus from the stock exchange, all their left with is a pile of negative bonds and are heading towards liquidation. It would take a miracle for them to recover.
That being said, enjoy buying and selling large amounts of cheap CFDs as it rises up and down.
Shorting only on this
My conclusion as to my own investment, is that I have lost my money.
Fortunately, this has taught me a lesson. I will never touch another Chinese company. At least I came to this epiphany, fairly early into my investment journey.
Definitely. They are great for riding the wild swings up and down though.
Movement in account before market has opened m. Seems to be going down (bringing profit back) so, hoping this is a good sign of what’s to come
Can any @admins help me out here. Why has the buy price not came down when sell price dropping? It’s just going up. When sell price comes up buy price comes down? I’m baffled as this is now going on just over 12hrs I believe.
