Behind the Fall of China’s Luckin Coffee: a Network of Fake Buyers and a Fictitious Employee

Behind the Fall of China’s Luckin Coffee: a Network of Fake Buyers and a Fictitious Employee

“It was just explosive, humongous growth, and those numbers were very seductive to a lot of investors,” said John Zolidis, a restaurant-industry analyst and president of Quo Vadis Capital, which said it has never bought or sold Luckin stock.

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