had to take out to invest
let's see if the rising tide of GNUS (currently @ 10.05 USD +2.12 (26.73%), raises this stock
Boiler Room: The Official Stock Market Discussion
let's see if the rising tide of GNUS (currently @ 10.05 USD +2.12 (26.73%), raises this stock
Someone in here recommended this back in April. I got in at .45, but it was like the 2nd or 3rd stock I ever bought so I was shook
Only got 142 shares
Chrishaune
Veteran
XSPA 
still more than 5 hours left but...got in @ $2.15 ... currently @ 1.91
win some, lose some. I am still banking on SCYX though these mofo's about to be delisted for not being @ $1
A Reddit trader claims they lost their entire life savings when Luckin Coffee's stock tanked | Markets Insider
REUTERS/Jason Lee
A Reddit user of a somewhat vulgar nameshared a screenshot on Wednesday revealing their 95% loss on the Chinese coffee chain's stock. The 28-year-old European fitness coach was intrigued by Luckin's 300% gain from November to January. After piling more than 235,000 euros ($264,000) into the company's shares, disaster struck.
u/StopFapForever
Few high-profile stocks could've driven as much interest and subsequently minted such incredible losses. Luckin shares nosedived 80% on April 2 after an internal investigation found the company's chief operating officer fabricated sales totaling 2.2 billion yuan ($310 million) throughout 2019. The coffee chain warned investors that past guidance and earnings releases were no longer reliable.
Read more:The head of BlackRock's $1 trillion ETF-investing business told us the 3 biggest growth opportunities on his radar - and explained how to start taking advantage of them now
The situation worsened days later when trading of Luckin stock was halted on the Nasdaq exchange. The stock sat at $4.39 for more than a month. The company received a delisting notice from Nasdaq on May 19, and when trading resumed the following day, shares cratered as much as 45%.
The company aims to request a hearing with an exchange panel, according to a May 19 filing, and will remain listed pending the hearing's outcome. Nasdaq staff cited "public interest concerns" for its delisting notice, adding the falsified sales and past failure to disclose critical information creates dangerous risks for investors.
"I didn't know they could cheat on balance sheet ... and that a company can just fail in 3 months," the Reddit trader wrote, adding the losses amounted to "all my life savings" and "now I'm broke af."
Still, the Reddit trader remains optimistic. They mentioned in a comment that, between their two businesses, losses should be recovered in a few years. The user also admitted that, after learning their lesson "the hard way," they plan to solely invest in ETFs, gold, and bonds for the foreseeable future.
"I do really believe everything in life happens for a reason," he wrote. "Is a painful lesson but I learned it the hard way and it will help me through my whole life."
Luckin Coffee closed at $2.58 per share on Wednesday, down 93% year-to-date.
- One Reddit user claims to have lost their life savings after Luckin Coffee's plummeting shares erased 224,000 euros ($252,000) from their portfolio.
- The WallStreetBets forum member posted a screenshot of their 95% loss on Wednesday, adding "now I'm broke af."
- Luckin Shares nosedived 80% on April 2 after announcing employees including its chief operating officer falsified 2.2 billion yuan ($310 million) in sales throughout 2019.
- Shares fell further through May after a monthslong trading halt was lifted and the Nasdaq exchange issued a delisting warning.
- "I didn't know they could cheat on balance sheet ... and that a company can just fail in 3 months," the Reddit trader wrote.
- Visit the Business Insider homepage for more stories.
A Reddit user of a somewhat vulgar nameshared a screenshot on Wednesday revealing their 95% loss on the Chinese coffee chain's stock. The 28-year-old European fitness coach was intrigued by Luckin's 300% gain from November to January. After piling more than 235,000 euros ($264,000) into the company's shares, disaster struck.
u/StopFapForever
Few high-profile stocks could've driven as much interest and subsequently minted such incredible losses. Luckin shares nosedived 80% on April 2 after an internal investigation found the company's chief operating officer fabricated sales totaling 2.2 billion yuan ($310 million) throughout 2019. The coffee chain warned investors that past guidance and earnings releases were no longer reliable.
Read more:The head of BlackRock's $1 trillion ETF-investing business told us the 3 biggest growth opportunities on his radar - and explained how to start taking advantage of them now
The situation worsened days later when trading of Luckin stock was halted on the Nasdaq exchange. The stock sat at $4.39 for more than a month. The company received a delisting notice from Nasdaq on May 19, and when trading resumed the following day, shares cratered as much as 45%.
The company aims to request a hearing with an exchange panel, according to a May 19 filing, and will remain listed pending the hearing's outcome. Nasdaq staff cited "public interest concerns" for its delisting notice, adding the falsified sales and past failure to disclose critical information creates dangerous risks for investors.
"I didn't know they could cheat on balance sheet ... and that a company can just fail in 3 months," the Reddit trader wrote, adding the losses amounted to "all my life savings" and "now I'm broke af."
Still, the Reddit trader remains optimistic. They mentioned in a comment that, between their two businesses, losses should be recovered in a few years. The user also admitted that, after learning their lesson "the hard way," they plan to solely invest in ETFs, gold, and bonds for the foreseeable future.
"I do really believe everything in life happens for a reason," he wrote. "Is a painful lesson but I learned it the hard way and it will help me through my whole life."
Luckin Coffee closed at $2.58 per share on Wednesday, down 93% year-to-date.
Meanwhile LK hit 3Rumors of another offering by GNUS. They did this last week it dipped but came backGL my people
Has anyone ever did a day trade without $25k in the account?