Luckin Coffee skyrockets in IPO open

|About: Luckin Coffee Inc. (LK)|By:, SA News Editor

Luckin Coffee (LK) opens trading at $25 after the IPO was priced at $17. The opening trades value the company at over $5.5B.

Luckin is on a blistering pace of opening 200 to 300 of its small-sized coffee outlets a month in what's been a different model than what Starbucks (SBUX +0.6%) is utilizing in China.

Previously: Luckin Coffee sets initial IPO terms (May 6)

Previously: Luckin prices at $17 in upsized IPO (May 17)

Subscribe for full text news in your inbox