Muddy Waters is Short Luckin Coffee Inc. (LK)

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Muddy Waters is Short Luckin Coffee Inc. (Nasdaq: LK), saying it received an 89-page report alleging the company is a fraud. The report, supported by thousands of hours of store traffic video, said the the number of items per day was inflated by at least 69% in Q3 and 88% in Q4. Muddy Waters views the report as "credible".

MW is short $LK. We received unattributed 89-page report alleging $LK is a fraud: "number of items per store per day was inflated by at least 69% in 2019 3Q and 88% in 2019 4Q, supported by 11,260 hours of store traffic video" We view the work as credible. https://t.co/N3rXlrvfcZ
— MuddyWatersResearch (@muddywatersre) January 31, 2020

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