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Companies

Luckin Coffee to delist from Nasdaq

Chinese chain will leave Monday as 13-month run comes to bitter end

Luckin Coffee's 13 months on the Nasdaq Stock Market will come to an end Monday. The Chinese company is trading at just $1.40 compared with over $50 earlier this year.

NEW YORK -- Luckin Coffee will stop trading on the Nasdaq Stock Market on Monday, the company announced Friday, after it dropped a bid to appeal the exchange's delisting decision.

Luckin has decided "not to seek to reverse" Nasdaq's decision for it to delist, the Xiamen, China-based company said in a statement, nearly three months after disclosing $310 million in fabricated sales.

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