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.
