Why Luckin Coffee Stock Surged 21.6% Wednesday

Shares of Luckin Coffee (NASDAQ: LK) jumped more than 20% on Wednesday, continuing the stock's rally off its recent lows. After being hit with an accounting scandal, executive terminations, and a Nasdaq delisting notice, Luckin Coffee's stock went on to suffer devasting losses of more than 95% from its all-time highs reached back in January. Reuters reported on May 24 that restaurant giant Yum China and Tencent-baked Tim Hortons could be exploring the possibility of purchasing some of Luckin Coffee's assets, including its popular mobile app and extensive customer data.