5 Rebounding Chinese Stocks to Buy Now

3. Luckin Coffee Inc. (OTC:LKNCY)

Number of Hedge Fund Holders: N/A

Share Price Gain in the Last Month as of August 30: 39.53%

Luckin Coffee Inc. (OTC:LKNCY) is a Xiamen-based company that serves freshly brewed coffee and non-coffee drinks in the People’s Republic of China. The stock gained about 5% on August 26 when the company reported that it fully redeemed $110 million worth of senior notes to help it lower its interest cost. In an approximate forecast, Quo Vadis Capital analyst John Zolidis sees roughly $1 billion in cash for Luckin Coffee Inc. (OTC:LKNCY) at the end of 2022, as well as a market cap of around $4.1 billion. On August 8, the company posted a Q1 revenue of RMB 3.3 billion, compared to RMB 1.9 billion in the prior year quarter. The stock has gained about 40% in the last month as of August 30.