Luckin vs Starbucks: New Money Challenges Old Aristocracy

Among the Chinese companies that went public in May, the best-known of them might be Luckin Coffee. Though four days later, Luckin had dropped below its offering price, the shares of the Chinese “new species” returned to a share price of $20 and the market value reached $4.731 billion. The Shenzhou-backed upstart only took 18 …

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