Shares closed Friday afternoon up at $20.38 per share, giving the stock a market value of $5.6 billion.Luckin is trying to overtake Starbucks as the biggest coffee chain in China. Since it was founded less than two years ago, it has opened 2,370 stores and plans to add 2,500 this year alone. Roughly 90% of its stores are smaller format shops designed for easy pickup and proximity to its customers, in contrast to Starbucks' larger and more homey cafes. （Luckin Coffee surges as much as 50% in its market debut, CNBC）
Comment:
Luckin has tried its best to attract new customers as well as investors for simple shop design, location and accurate branding especially in the face of new opportunity of the Chinese market.
(Editor Shao Jingjing)
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