Article: Coffee’s for Closers: How a Short Seller’s Warning Helped Take Down Luckin Coffee

Article - Media, Publications

Coffee’s for Closers: How a Short Seller’s Warning Helped Take Down Luckin Coffee

Jing Yang in Hong Kong, Juliet Chung in New York and Julie Steinberg in London, 23 June 2020

In January, days after the shares of Luckin Coffee Inc. hit a record high on the Nasdaq Stock Market , giving the company a $12 billion valuation, a cryptic email arrived in the inboxes of multiple short sellers. “A new generation of Chinese Fraud 2.0 has emerged,” it said. “Companies that start off as fundamentally and structurally flawed business model [sic] that evolves into fraud.” The author offered to share customer receipts and videos from Luckin Coffee outlets, attached a long report about the company and said the short sellers could publish and take credit for it. Continue reading “Article: Coffee’s for Closers: How a Short Seller’s Warning Helped Take Down Luckin Coffee”

Article: South Korea exchange ups scrutiny of Merrill Lynch trading

Article - Media

South Korea exchange ups scrutiny of Merrill Lynch trading

Song Jung-a, Emma Dunkley

Financial Times, 21 August 2018

South Korea’s stock exchange has stepped up its monitoring of high-frequency trading by the Seoul branch of Bank of America Merrill Lynch after local investors complained about alleged unfair stock trades by the US brokerage.

The scrutiny comes after individual local investors filed petitions to the presidential office, saying they suffered huge losses due to large, high-frequency trades and bets against South Korean stocks through the brokerage since last year.

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