Luckin Coffee Inc.
LK, -15.75%
is down 14.2% in Friday trading after an anonymous report received by short seller Muddy Waters Research that alleges the company is fabricating its financial and operating figures, beginning with Q3 2019. MarketWatch cannot confirm the authenticity of the report, which is 89 pages long. The report alleges the number of items per store was bumped up 69% in the third quarter and 88% in the fourth quarter, based on 11,260 hours of store video that the anonymous authors claimed to have viewed. MarketWatch has reached out to Luckin…
