LKNCY is trading 4% down today at $30.62, extending its recent decline amid a new disclosure from a major investor.
- Singapore's state-owned investment firm, Temasek Holdings, disclosed in a Schedule 13G filing dated today that it holds a 6.4% stake in Luckin Coffee.
- The stock's weakness also follows a company announcement from May 20 that Director Feng Liu would not stand for re-appointment and will transition to a role as an external strategic advisor.
- The move continues a multi-day slide that aligns with technical indicators, many of which have recently suggested a bearish or sell trend.