Luckin Coffee Inc. sank as much as 27% on Friday when Muddy Waters Capital tweeted that it has a short on the stock after it received an unattributed … Luckin Coffee, a Chinese chain often labeled a threat to Starbucks’ market share in the region, could be in hot water after short seller Muddy Waters received an 89-page, anonymous report alleging several instances of fraud. Famous short selling research firm, Muddy Waters, is going after another Chinese company after highlighting questionable accounting at Luckin Coffee, now halted on the Nasdaq. Afterwards, I read the original report of muddy water and made a translation: What did Muddy Water do to Ruixing? Muddy Waters Research said in January that it bet against the stock in light of what it described as fraud and a "fundamentally broken business." Tweet Luckin responded by … Luckin Coffee just held its initial public offering this past May, and now Muddy Waters says it’s shorting company, calling it a “fraud” and “fundamentally broken business.” The firm received an anonymous report about the Chinese company, which it views as credible. If there was no report of muddy water in the beginning, LUCKIN COFFEE may still be highly sought after by capital, or it may be rejected by the auditing agency, or it might sink a third party to the bottom of the sea.

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