Luckin Coffee Stock (LK) Keeps Falling! | Time to BUY Starbucks Stock Now?
What’s Up, Everybody! Welcome to MR. ZERO to INFINITY for Episode 41! Luckin Coffee Stock (LK) Keeps Falling! | Time to BUY Starbucks Stock Now? | Add on Instagram: MrZEROtoINFINITY
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Since the majority of you all know I started one of my stock portfolios at the beginning of 2020, you already know I’m a part-owner of Starbucks stock and I stay on top of the competitors in the coffee business. In this case, I made two videos on Luckin Coffee which received a lot of views at the time highlighting stock news alerts about lucking coffee being halted due to the fraud that went on. Well, since those two episodes, LK stock is trading again but the NASDAQ stock market has determined to delist Luckin Coffee stock so in summary LK is being kicked out. Before I get into my thoughts about Luckin Coffee and then end with a quick portfolio update.
Based on the Press Release on Luckin Coffee’s Investor Relation Page it said: Luckin Coffee Inc. or LK stock received written notice of delisting. The Listing Qualifications Staff cited two factors to the delisting determination: (1st) there were public interest concerns as raised by the fabricated transactions disclosed by the Company in a Form 6-K on April 2, 2020, and (2nd) the LK’s past failure to publicly disclose material information, citing a business model through which the previously disclosed fabricated transactions were executed. Fraud headlines were all over the place a couple weeks ago.
So now, LK stock will remain listed on the Nasdaq, pending the outcome of the Hearing which typically is scheduled to occur approximately 30 to 45 days after the date of the hearing request.
So now what? Well, if you watched my two other episodes on Luckin Coffee you already know that I’ve been on the sidelines with no real interest in buying LK stock since there were no real earnings and financial numbers to research.
Because of this delisting news update, I have no interest in buying lucking coffee stock even if the stock continues to drop and crashes to $0.
I don’t want to deal with the hassle of being stuck holding a stock I can’t sell if the stock eventually trades over the counter. I prefer to invest in stocks that are easily bought and sold on the stock market.
This is why I personally plan on buying more Starbucks stock over the next couple of months. Building my SBUX stock position higher and higher! I like Starbucks because of the store growth potential overseas and it also pays a nice dividend as well.
The portfolio is a little over $5,700 at the time I took the screenshot and I added Square stock to the portfolio buying 3 shares and I also bought 5 more shares of Penn National Gaming stock.
I did a Square stock analysis video already and I mentioned it was on the list of undervalued stocks I planned to buy in May 2020. Now that LK stock continues to sell off, I will probably buy more SBUX stock if it matches up with my price target depending on what’s going with the headline news each week.
As mentioned, this was a quick one. I’ll have plenty of information to discuss on Fiverr International (FVRR), Apple (AAPL), Penn National Gaming (PENN), Starbucks (SBUX), and now Square (SQ stock)! As a long-term growth investor, the lower the cost basis I can get for any of my stocks, the better! Any signs of a pullback are welcome especially since the stock market seems to just go up these days. The down days will come and I’ll be ready!
Thanks again for watching!
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