Coffee sector jolt: Luckin Coffee might trade on the Nasdaq again
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Luckin Coffee is exploring plans to relist its shares on the Nasdaq stock exchange sometime this year, sources tell Financial Times. The original Luckin listing on the Nasdaq was pulled in June of 2020 amid financial fraud allegations, but Luckin Coffee (OTCPK:LKNCY) continues to trade over-the-counter in the U.S. Those shares are showing a 14.95% gain today and are at their highest level of 2022.

The FT reports that the coffee store operator is also meeting with investors and advisers to discuss other options for raising capital.
The China coffee sector was already heating up even before Luckin raising new funds. Starbucks (NASDAQ:SBUX) is still aggressively pursuing growth and upstart Manner is growing its store base. Other coffee chain startups in China include Seesaw Coffee, Algebraist and M Stand.