Hedgeye CEO Keith McCullough is adding Luckin Coffee (LK) to the long side of Investing Ideas. Below is a brief note.
Virus headlines didn't give US Equity Bears (SPY remains Bullish TREND @Hedgeye) what they were hoping for today. What it gave China Consumer Bulls was another buying opportunity.
One of our favorite China Consumer names is Luckin Coffee (LK).
Here's a summary excerpt from Restaurants analyst Howard Penney on the name:
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“We believe LK is one of the most revolutionary restaurant models the public markets have seen, and despite their current focus on China, expansion internationally will likely come in the future. Competitors are already piloting and adopting the digitally focused model in order to compete, but we believe LK will maintain the upper hand as they expand.” |
Buying this week’s correction,
KM
