It was once valued at $12.7B. Now Luckin Coffee isn’t even a unicorn
fortune.comHow did they get listed in the first place in the US if they don't have to comply with regulators / laws?
None of them do - they want the benefits of being listed on a US exchange with none of the accountability.
Most foreign companies from developing nations are mom and pop operations (there's no professional management class outside the CCP in China, and India is similar), one of the biggest examples being Huawei.
Yeah, that’s what happens when you fraudulently account sales.
Quant Traders everywhere: - Lets use data to calculate the real value of the stock!
All the anti-fraud units everywhere: - But the data is bogus and manipulatable.
Quant Traders: - Then AI! Woho, here comes the money train!