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Food & Beverage

Luckin crashes in resumed trading as delisting clock ticks

Six-week suspension over fabricated sales scandal ends with 43% slump

HONG KONG -- Luckin Coffee opened its first day of trading in six weeks with a 43% nosedive on Wednesday, as investors hurried to sell off shares after a six-week freeze that ended with the Chinese Starbucks challenger saying it faced desliting by Nasdaq.

The stock, which peaked at $51.38 earlier this year before its accounting scandal, dipped to as low as $2.27 in initial premarket trading, as tracked by MarketWatch.

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