MMHVW - only recently went public. Price has dropped since then. This could be a cheaper option compared to Starbucks.
Luckin Coffee Inc. 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...
Limited chart history but these are the short-term levels Im looking at. Expecting a bounce off of the red dotted support line with a run up to at least $22.
This could easily go to $30+, soon, if the hype can be sustained.
Starbucks has a market-cap of $100B while Luckin is sitting at about $1B. Starbucks has about 16x more stores than LK but a 100x greater...
LUCKIN COFFEE, a new style for instant consume, has bucked since IPO, even the issue price was broken out.
After it hit the lowest price 13.71, now it renews with a spike.
There is fresh demand zone formed at 14.7-15.7, which is good to buy if the market pulls back.
SL: below 13.0
TP: 24.5 and further more
Claimed as Chinese version of Starbucks, a typical cash burning company.
Expecting 3 phases of future moves:
1. Investors cashing out and dumped stocks, force the price action to go lower.
2. Retails going in, and moves price higher, so individual investors could hop on and get ready for some chop chop.
3. Retails out, real value of the company starts coming...