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Luckin Coffee Inc. (LK) engages in the retail sale of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China.
It offers freshly brewed drinks, including freshly brewed coffee and non-coffee drinks; and food and beverage items, such as light meals.
The company operates pick-up stores, relax stores, and delivery kitchens under the Luckin brand, as well as Luckin mobile app, Weixin mini-program, and other third-party platforms that cover the customer purchase process.
As of March 31, 2019, it operated 2,370 stores, including 2,163 pick-up stores, 109 relax stores, and 98 delivery kitchens in 28 cities in the People's Republic of China.
Shares of this stock have formed a bullish "flag" following the company's latest report. On November 13th, Luckin Coffee reported a 3rd Quarter September 2019 loss of $0.32 per share on revenue of $215.7 million. The consensus estimate was a loss of $0.37 per share.
The company said it expects fourth quarter revenue of $299.1 million to $313.4 million. The current consensus revenue estimate is $290.1 million for the quarter ending December 31, 2019. Higher share prices are expected for this stock.
Entry Point: $27.50
Stop Loss: $26.10
Trading Range: $13.71 to $30.33
Target Price: $30.25
LK closed at $32.10
