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A jackpot-winning Powerball ticket worth an estimated $136.4 million ($108 million cash option) from the drawing Wednesday, June 3, was sold in West Virginia.Get more news about 菲律宾彩票包网平台,you can vist loto98.com

"Congratulations to the winner or winners of this incredible jackpot,” West Virginia Lottery Director John Myers says. "West Virginia has had a long history of Powerball jackpot winners and we are so happy to have another winner of this magnitude from our great State.”

The winning ticket was sold at Go Mart #93 on Stokes Drive in Hinton, Summers County. The retailer will receive a $100,000 sales bonus for selling the winning ticket. Lottery officials say it was the only ticket in the country to match all six numbers for Wednesday’s drawing. The winning numbers were 1, 3, 26, 41, 64 and the Powerball number was 17.

The winner also has the option taking the cash option of $108 million instead of the annuitized grand prize of $136.4 million paid in 30 graduated payments over 29 years, according to lottery officials. The Powerball jackpot for the Saturday, June 6 drawing now resets to $20 million.

Lottery officials encourage the winner or winners to sign the back of the ticket and keep it in a safe place. The Lottery also recommends they contact a financial advisor and/or an attorney before calling the West Virginia Lottery at 304-558-0500, ext. 311 for details on how to claim.

For local and breaking news, weather alerts, video and more, download the FREE WOWK 13 News App from the Apple App Store or the Google Play Store.

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There were 88 Colorado Lotto tickets sold at Avon Liquor this week and one of them is a grand prize winner.Get more news about 彩票包网平台,you can vist loto98.com

"We got an email about it yesterday,” said Brian Kruse, one of the store owners. "We haven’t found out who the winner is yet, but we assume it is someone local.”

According to Meghan Dougherty, communications manager for the Colorado Lottery, Wednesday night’s Colorado Lotto jackpot was $3.3 million with a cash value of $1.6 million. The winner will have to pay 24% federal tax and 4% state tax on the winnings.
The lucky winner can either mail in the winning ticket to the Colorado Lottery or claim the prize in person at the Pueblo lottery office. He or she will need to call and make an appointment.

We did sell a Cash 5 ticket that was a pretty big winner once,” Kruse said. "We have lucky customers.”While he doesn’t yet know who the winner is, Kruse knows a group who weren’t lucky.

"Not a single employee bought a ticket last week so the winner isn’t one of us,” he said.But the store staff is getting a kick out of being the place where a million-dollar ticket was printed."It is good news and everyone needs to hear something good right now,” Kruse said.

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Beijing: The last three coronavirus patients in Wuhan, the first epicentre of the COVID-19, have been discharged and the central Chinese city has recorded zero cases of the virus after mass testing of about 10 million people, state-media reported on Friday. To get more news about coronavirus wuhan, you can visit shine news official website.

According to the China’s National Health Commission (NHC), five imported cases, including four in Shanghai and one in Sichuan Province, were reported in China on Thursday.

Also on Thursday, three new asymptomatic cases were reported taking the total of such cases under medical observation to 297, the NHC said.

As of Thursday, the overall confirmed cases on the mainland have reached 83,027, including 66 patients who were still being treated, and 78,327 people who had been discharged after recovery.

Altogether 4,634 people have died of the disease, the NHC said.

The last three COVID-19 patients in Wuhan, capital of the Hubei Province, have recovered and been discharged from a hospital, state-run People’s Daily reported on Friday.

They were discharged on Thursday after they tested negative for two nucleic acid tests within 24 hours, their temperatures fell to normal levels and their symptoms disappeared, according to the report.

By Thursday, all COVID-19 patients in Hubei, the province most affected by the COVID-19 epidemic in China, have been discharged from the hospitals. In total, the province reported 68,135 cases, with 63,623 recovered and discharged. In all 4,512 people died due to coronavirus in the province.

As of Wednesday, Wuhan still has 245 people with asymptomatic symptoms were under quarantine.

Asymptomatic cases also known as silent spreaders, pose a problem as the patients are tested COVID-19 positive but develop no symptoms such as fever, cough or sore throat. However, they pose a risk of spreading the disease to others.

Hubei has accomplished seven "zeros” by Thursday: zero new COVID-19 cases, zero new suspected cases, zero new deaths, zero silent carriers, zero imported cases, zero existing confirmed cases and zero existing suspected cases, state-run Global Times reported.

All districts in Wuhan, about 10 million have been tested and are now assessed to be low risk for the coronavirus infection. Dongxihu district, the last medium-risk district in the city, reported zero new cases for 14 consecutive days to June 1 and its risk level was adjusted to low on June 2, the report said.

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Visitors wearing face masks streamed into Shanghai Disneyland as China’s most prominent theme park reopened Monday in a new step toward rolling back anti-coronavirus controls that shut down its economy.To get more news about coronavirus shanghai, you can visit shine news official website.
The park, which closed Jan. 25, will limit visitor numbers and is keeping some attractions closed in line with social distancing guidelines, company executives said.

The reopening adds to efforts by companies and the ruling Communist Party to revive the world’s second-largest economy following a shutdown that plunged it into its worst slump since at least the 1960s.

"We hope that today’s reopening serves as a beacon of light across the globe, providing hope and inspiration to everyone,” the president of Shanghai Disney Resort, Joe Schott, told reporters.China, where the pandemic began in December, was the first economy to shut down and the first to reopen after the ruling party declared the disease under control in early March.

Factories and shops have reopened but cinemas, karaoke parlors, gyms and other businesses still are closed.

Disney guests, many wearing Mickey Mouse ears, and children dressed as movie characters were checked for the virus’s telltale fever at the gate. The company’s signature tune, "When You Wish Upon a Star” played over loudspeakers.

Decals on sidewalks and at lines for attractions show visitors where to stand to keep a safe distance. The company said rides will be limited to one group of visitors per car to keep strangers separated.

"Excited about the opening of the gate!” people in the first group of guests shouted as they entered the park.

Visitors are required to make advance reservations, show government-issued identification and download a smartphone app issued by the Shanghai city government that tracks their health and their contacts with anyone who might have been exposed to the virus.

That allows the company to "understand and regulate the flow of traffic,” said Andrew Bolstein, the park’s senior vice president for operations.

Activities including children’s play areas and indoor theater shows are closed in line with government restrictions, Bostein said.

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On Monday, two months after the Chinese government started to relax the blanket shutdowns that it had ordered to combat the spread of the coronavirus, the theme park at Shanghai Disneyland reopened, with social-distancing rules in effect and Mickey, Minnie, and the rest of the crew on hand to greet the first customers. "It has been an emotional morning,” Joe Schott, the resort’s general manager, told the Times, "There is light at the end of the tunnel.”To get more economy news today, you can visit shine news official website.

That is what everyone around the world is hoping for, of course, and China’s experience does provide some hopeful signs for Western countries—the United States included—which are now embarking on the route that China started down in March. The Chinese government has been able to reopen almost all of its offices, factories, schools, and stores. Most internal transport links are operating, and official statistics indicate that the over-all economic output has started to expand again, after contracting at a record rate in February.

But as Disneyland’s reopening made news, it also illustrated the limited nature of China’s economic rebound, and the challenges that the U.S. will face in the coming months. With the Chinese government having ordered the park to operate at thirty per cent of its capacity, the crowds were much smaller than usual. Visitors were forced to wear masks, submit to temperature tests, and show a green QR code on their cell phones, which indicated that they were authorized to move around.

Other Chinese businesses, particularly in manufacturing, don’t face these issues with customer safety, but many of them are still struggling to operate in the coronavirus economy. On Monday, the National Bureau of Statistics reported that producer prices fell sharply in April, indicating that the vast Chinese manufacturing sector is facing a lack of demand. "The post lockdown recovery in China . . . has turned out to be slower than most people expected,” Qu Hongbin, the chief China economist at H.S.B.C., told Bloomberg television.

Part of China’s economic problem is an external one. As other countries have introduced lockdowns, the demand for Chinese exports has fallen sharply. But that isn’t the only issue. Qu pointed out that domestic spending, particularly retail sales, is still running well below pre-crisis levels. He attributed this lag to the "emotional headwinds”—fear and nervousness—that the virus has created, and which have yet to dissipate. Other sectors are facing similar challenges. A new report from McKinsey, the international consulting group, says that internal travel over the recent May Day holiday weekend was roughly half of last year’s level. "Travelers are still cautious,” the report said. "They prefer to stay close to home—choosing, for example, to drive or take trains to regional destinations.”

Even some of the strong spots in the economy appear to reflect precautionary behavior. Last week, Volkswagen said that its sales of passenger cars in China, where it has extensive operations, were running at higher levels than last year; one of its executives attributed this to a general fear of crowds. "People want to avoid public transport these days,” the executive told Reuters.

These attitudes may change, but it will take time. According to a McKinsey survey, a majority of Chinese people aren’t planning to travel again until September or October—six months after the lockdowns were lifted. If a similar timetable were to play out here, the dates for a resumption in travel wouldn’t be until November or December. Some American travel companies have already got the message that many of their customers aren’t returning anytime soon. United Airlines said last week that, starting in October, it plans to cut thirty per cent of its white-collar payroll.

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JCER Senior Researcher Jun Saito recently commented that the global epidemic may be the final blow on Japan’s sluggish economy, while Goldman Sachs estimated Japan’s economy may see a record 25% shrinkage this quarter.To get more news about Japan’s Economy, you can visit wikifx news official website.
　　Jun Saito repeated the point that Japan is heading towards a severe recession, attributing it to the shocks on demand and supply. In addition, the delaying of Olympics and Paralympics will "put more downward pressure” on Japan’s economy.
　　According to the estimation of Goldman Sachs, Japan’s economy will shrink an unprecedented 25% this quarter despite a stimulus scheme never seen in history. While coronavirus outbreak in the US and some European economies is easing, this may not be a very good news for the safe-haven yen, which has benefited from the continuous global economic slump in March. Now that the market expects a peak of global coronavirus cases, risk aversion sentiment is eventually thinning, which will definitely weigh on the yen.

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Coronavirus outbreak overseas will likely trigger global financial market’s systematic adjustment. Compared with that during the 2008 financial crisis, the financial systems of major global economies are more steady, and euro assets can be increasingly prospective.To get more news about Euro Assets, you can visit wikifx news official website.
　　Though the Eurozone is facing a recession, the risk of a serious crisis is small. Stricter measures implemented by countries across the world to control spreading coronavirus and global coordination of counter-cyclical monetary policies will offer powerful support for containing the outbreak and the economic rally afterwards.
　　European stock market has squeezed out bubbles after the heavy slump. Stock prices have reflected pessimistic expectation of economic recession, and with major indices falling to historical bottom range, euro assets are beginning to show their potentials in investment portfolios.
　　In the short term, once the global outbreak alleviates or reach a turning point, pricing of those competitive European companies will likely return to fair level. Meanwhile, the Fed’s unlimited QE recently will help solve the US dollar liquidity crisis in the short term, but lead to the dollar’s depreciation in the long run.

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Recently, WikiFX noticed that the Indian broker upstox has been showered by customer complaints. Many local users said that they could not log in to the upstox trading platform, and some users reported that their accounts strangely placed orders automatically without their authorization, causing users unjustified losses of thousands of rupees.To get more news about Auto-placed Order, you can visit wikifx news official website.
　　Other much complained and poorly rated Indian brokers include Zerodha and Angel Broking. The scores of these brokers on WikiFX App are very low, and none of them is under valid regulation. Investors need to be careful not to fall into their traps!
WikiFX App has recorded information of more than 17,000 brokers, integrating multiple functions such as query, exposure, and forum. If you have any doubt about a broker, you can first check on WikiFX App and view its risk warnings, comments or investor complaints.
　　Since the above-mentioned brokers are registered at and regulated by SEBI(Securities and Exchange Commission of India), local investors trusted these brokers without reservation. These brokers, with a large number of users, also like to brag about themselves as "best brokers in India.”
　　upstox’s official website claims the company to be "one of the most acclaimed brokers in India”, but the company has just become "the one and only most hated broker in India”, as investors kept seeing error message of "incorrect account or passwords” that blocks them from logging into upstox’s trading platform.
　　Currently, investors have reported to SEBI and requested investigation of upstox, Zerodha and Angel Broking. WikiFX will continue to follow the event and bring investors the latest updates. If investors need to make complaints or exposures, please download the WikiFX App and register, and they will get a WikiFX magazine for free.

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The following thoughts were shared by WikiFX with you.
　　1. If it looksawesome.
　　Some forex websites that promise to make huge profits automatically soon, which should raise your first suspicion. There’s no free lunch in this market. They always try to sell such products which only have one page of attractive profits without no serious explanation. They only allow you to see how much dollars you can get,and you never see the negative information on their website.To get more news about Must-know, you can visit wikifx news official website.
　　2. Talk toCustomer Support:
　　WikiFX suggests talking to people in the company before you are ready to trade. Because they will help you, especially novice, to choose a product which is best-suited for you. On the other hand, after talking with people who work in the company, you can find that they know their products well. But you still need to verify that they really stand behind their products.
3. "GOOGLE”is your best friend.
　　This method is the simplest, but it is often overlooked by people. Using Google to search the product helps you find problems. For Nigerian, Nairaland forum is a good place to capture the information of illegal brokers. You can google "illegal broker” or "scam” or”sucks” , then you will find lots of scam cases of real people who have already suffered.
　　4. Spot scammers.
　　As we all know, there are so many people pretending to be the staff from Binomo and Olymptrade to defraud investors on social media platforms. It has been proved that although the two companies are illegal brokers, they have official customer services support. So don’t send money or provide personal information to suspected brokers, who always try to get your money or information by false messages, calls or emails.
5. Don’t deposit easily at any platform for a promise.
　　Scammers always promise you a high return in a few days without any paper contract, and payment is conducted by mobile money transfer. They always ask you to pay extra money so that you can withdraw the money deposited. If you do so, they would disappear with your money. While, legal brokers provide contract and formal transfer link for you to protect your legitimate rights and interests.
　　6. Regulation:
　　An legal broker in the market will be regulated by at least one authority.A stamp from the NFA, FSA, CFTC or another reputed institute in a normal country doesn’t mean that the company is bona fide, but it’s better than nothing.
　　
　　7. MT4 system
　　MT4 is a trading tool for each trader. The trend of currency will be shown on it. So when brokers claim that they are doing forex business without MT4 system, and tell you they can promise you twice or triple profits if you invest, please be careful with them.

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The anonymous social network Blind surveyed nearly 7,000 tech workers about their job security and found a 33% increase in concern between March and April.Facebook employees were the least concerned about their jobs; Expedia employees were the most worried.Blind also surveyed tech workers on whether or not they were worried about pay cuts. There was a 22% jump in concerned employees from one month to the next. Amazon workers were the least worried about their pay; Lyft workers were the most concerned.Visit Business Insider’s homepage for more stories.To get more news about job concerns, you can visit wikifx news official website.
　　Nearly three-quarters of employees at tech companies are concerned about their job security, according to a new survey from anonymous social media app Blind, conducted exclusively for Business Insider. That’s a 33% jump from results of the same survey a month ago. Blind asked its users "Are you concerned your job security will be negatively affected by the economic trends stemming from the Coronavirus？” and 72% percent of the 6,950 tech workers that answered between April 11 and 15 said "Yes.” In an identical survey conducted between March 9 and 11, only 54% of 7,155 respondents answered yes. The numbers of employees that answered the survey varied greatly from company to company, from 560 employees at Amazon to 48 at Adobe. But a breakdown of Blind’s data by employer still allows for a timely reflection of how workers at individual companies feel at a time of uncertainty and trepidation.For example, Facebook employees were the least concerned about their jobs, according to the data, with just half saying they were worried. Expedia employees were the most worried, with 95% expressing concern (perhaps unsurprising, given that Expedia laid off 12% of its workforce in late February). Employees from travel and gig-economy companies were some of the most concerned, generally.
Tech industry analyst Charles King of Pund-IT Weekly Review says that the increased concern reflects "the massive, rapid evolution of COVID-19-influenced events.”
　　The findings also illustrate that job fears are not "falling equally on everyone,” King says. "That’s due to the fact that the crises hammering some businesses and industries have also created opportunities for other tech companies,” he says, "Including cloud computing, online gaming, and entertainment and vendors that provide work from home solutions and services.” Another noteworthy tidbit from the survey is the month-over-month increase in concern from workers at large companies. In March, less than half of the workers at Amazon, Google, LinkedIn, and Salesforce were concerned about their jobs. At Apple, only 39% of workers were worried about their jobs in March.Any semblance of serenity melted away in April though. No company surveyed this month had less than 60% of its employees say they were concerned about job security. The survey comes as record-setting unemployment claims are being reported nationwide. The Labor Department reported on Thursday that 5.2 million Americans filed for unemployment insurance in the week that ended April 11, bringing the four-week total to roughly 22.03 million, a record for a period of that length.
　　Daniel Alpert, a creator of the US Private Sector Job Quality Index, told Business Insider that the new wave of national layoffs are moving beyond frontline workers immediately cut from jobs at businesses deemed nonessential to "avoidable layoffs or furloughs in white-collar service sectors administrative, professional, technical, management and sales positions.”Businesses across every industry are cutting jobsor putting employees on furlough. The results of Blind’s job security query were roughly mirrored in a companion question: "Are you concerned your total income is going to be negatively affected by the economic trends stemming from the Coronavirus？”Seventy-six percent of respondents answered "yes” this month, while 62% answered "yes” in March, which is about a 23% increase in concern.Amazon workers were the least worried about their pay, with 65% expressing concern; 94% of Lyft workers said they are concerned, at the other end of the spectrum.

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1.Your passport or ID or driver license, permit or ID card is lost or stolen and you need a replacement. You may be eligible to apply for a replacement card online. If you visit a DMV customer service center, you will need to provide proof of identity.To get more news about where to buy passport, you can visit 45degreesdesign news official website.
2.Note: If you are a Wisconsin resident temporarily out of Wisconsin, you may be eligible to apply for a replacement online and have it mailed to your temporary out-of-state address. If you are not eligible to apply online, you may be eligible to apply for a replacement by mail (see "Lost or stolen driver license or ID card while out of state” below).
3.You have a commercial driver license (CDL) and your address has changed. You may be eligible to apply for a replacement license and update your address online. If you are not eligible to apply online, you must visit a DMV customer service center to apply for a duplicate card that lists your current address within 10 days.
4.You have changed your name. You must visit a DMV customer service center and provide proof of your name change.
You have changed your gender. You must visit a DMV customer service center and provide proof by court order or physician’s report.
5.Your date of birth is listed incorrectly on your card. You will need to appear at a DMV customer service center and provide proof of date of birth to correct the error.
You wish to apply for a federally compliant REAL ID driver license or identification card before your next renewal.
6.The interactive driver licensing guide is a helpful tool for those looking for information on driver licensing, commercial driver licensing or Identification (ID card) requirements. The guide will provide you with a checklist of requirements, and allow you to pre-fill any required application(s). Depending on your eligibility you may also be able to use the guide to electronically submit your application and schedule an appointment with the DMV for expedited service.
Note: If your driver license, permit or ID card is expired, or is about to expire, you may not obtain a duplicate. You will be required to renew the driver license, permit or ID card. You may be eligible to apply for renewal of your Probationary driver license or regular instruction permit online. All these question, we can help you.
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Play Powerball online by selecting five main numbers from 1-69 and a single Power Ball additional number from a guess range of 1-26. US Powerball winning numbers are selected each Wednesday and Saturday at 23:00 EST*, and your official Powerball lottery ticket could make you the lottery world’s next dollar multi-millionaire! When you buy lottery tickets online with theLotter, you will see a scanned copy in your private theLotter account before every draw. Select your numbers for the next Powerball draw with quick pick, manual selection, or your saved lucky numbers!Get more news about 菲律宾彩票包网平台,you can vist loto98.com

In 43 states, the District of Columbia, and the U.S. Virgin Islands, Powerball tickets are available at authorized lottery retailers, which means they are usually found at the same places that most other lottery tickets are – drugstores, gas stations, and grocery stores. The game can be played by anyone over the age of 18. You don’t have to be a resident of a Powerball state to play if you purchase your ticket in a Powerball state. You don’t even have to be a U.S. citizen to play and win the Powerball.

With an impressive $40,000,000 starting jackpot, US Powerball offers the biggest starting jackpot of any world lottery, and its $1.58 billion personal best from January 2016 is the all-time lottery world record! Match all five main numbers and the Powerball and you could be celebrating a multi-million dollar win in America’s favorite lotto! Having trouble choosing which numbers to play? There are several strategies and methods to choosing lottery numbers. In addition to the jackpot, Powerball fans can win one of eight exciting secondary prizes including a second prize that starts at $1 million!

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The lottery is gambling in its purest form. If I had to pick one game to represent the essence of gambling, it would be the lottery. There is nothing that says "gambling” more than buying a lottery ticket, picking your numbers and hoping to get lucky. Not only that, but the lottery promises the biggest jackpots in all of gambling, sometimes reaching into the hundreds of millions.Get more news about 彩票包网平台,you can vist loto98.com

It wasn’t all that long ago that the only way to play the lottery was to purchase tickets in person. Now, you can buy tickets online and play from the comfort of home. That’s right. You can now play almost any drawing from home by visiting any number of online lottery sites and buying real tickets. There are quite a few websites that offer this service. Here are a couple lottery sites that collectively serve several million people around the world.
The best online lottery sites provide gamblers with plenty of nationally recognized lotteries, allowing them to potentially win hundreds of millions. Basically, these sites act as agents that sell tickets to online gamblers. This system allows gamblers to participate in official national lotteries from a variety of countries around the world. Game variety is combined with a strong selection of deposit and withdrawal options, player bonuses, international support and trustworthy business practices to provide the most enjoyable lottery gaming experience.
Bonuses and promotions are not yet entirely commonplace at lottery sites. However, the top online lottery sites do carry a modest range of bonuses and promotions. Look for online lotteries that provide refunds or discounts after you have purchased your first ticket. Some lottery sites may offer a discount on the next ticket you purchase, while others will refund the cost of your first ticket directly into your account.

Some online lottery websites attempt to promote subscriptions by occasionally offering free tickets. A subscription keeps you active in all future drawings of a certain lottery game, and some brands like to entice participants to sign up for subscriptions by awarding a free ticket for the 10th or 15th lottery game played. Additional income can be earned from Refer a Friend promotions, which usually offer bonus cash for each friend that registers for an account and completes a deposit.

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Luckin Coffee fired its CEO after the Chinese homegrown rival to Starbucks was found to have fabricated sales.To get more luckin coffee latest news, you can visit shine news official website.
Jenny Zhiya Qian was terminated on Monday, along with chief operating officer Jian Lu — the executive whom the company said last month was the architect of the fraud — according to a filing Luckin (LK) made with the Securities and Exchange Commission Tuesday morning.
Luckin disclosed on April 2 that it had suspended Liu after discovering he and several of his direct reports "had engaged in certain misconduct, including fabricating certain transactions.” These amounted to about 2.2 billion yuan (approximately $310 million) from the second quarter to the fourth quarter of last year.

Jinyi Guo, a senior vice president and board director, has been named acting CEO.
Investors were originally infatuated with Luckin, which went public in the United States in May 2019 and posted strong revenue growth — and appeared to be stealing market share from Starbucks (SBUX) in China. As of late last year the company had 3,680 stores, which was an increase of more than 200% from a year earlier.
But the company’s future remains highly uncertain. Luckin shares were halted on the Nasdaq on April 6 after the company first disclosed the inflated revenue. The stock, which plunged 75% in early April on the news of the accounting probe, has not traded since then.
There have been rumors that the stock will eventually be delisted and that Luckin could even file for bankruptcy.
Still, some Chinese consumers are rallying behind Luckin. Mobile data analytics company Apptopia told CNN Business last month that downloads of the Luckin app on Apple’s (AAPL) iOS hit a daily record shortly after the company disclosed the accounting irregularities.

And Quartz reported early last month that there was strong support for Luckin among Chinese consumers on Chinese social media site Weibo.
Luckin’s stock was trading at $4.39 a share before it was halted for trading. That’s nearly 75% below its $17 IPO price, and down more than 90% from its January peak of just above $51

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is in more trouble. This week, new details on the Chinese coffee chain’s accounting practices are unfortunately dominating headlines. Why?To get more news about luckin coffee, you can visit shine news official website.

Under previous company management, executives purportedly juiced financials by creating vouchers to sell to fake buyers connected to the company. Millions in fake revenue was reported to boost the company’s growth metrics and impress shareholders.
To complicate things further, the company’s newly audited financial statements reveal $140 million in charges for raw materials within just a few months. This number is astronomically high compared to similar business models, pointing to more dishonesty and potentially theft.
New executives have been brought in the turn the tide; it remains to be seen whether they can do so. It will take time to fully recover from the investor distrust blossoming from this, and new problems keep popping up.

According to reporting from The Wall Street Journal, this company’s scandalous behavior began far before its IPO; it took time for the events to be uncovered.

Fraud pushed Luckin’s stock from penthouse to doghouse in a short period of time. From an investor perspective, the news led to trade halting on American exchanges. The stock rapidly erased 90% of its value upon shares reopening.

Pensions, brokerages, and retail investors globally were rocked by this shocking fraud. Today merely brings new details depicting severe malpractice by the company. Luckin has more work to do.
Luckin Coffee’s stock crashed in April after the company disclosed that it was investigating its chief operating officer for allegedly inflating sales by hundreds of millions of dollars. Several weeks later, Luckin fired COO Jian Liu and CEO Jenny Zhiya Qian due to their alleged roles in the scandal.

Then on May 19, Luckin received a delisting notice from Nasdaq, citing the company’s fabricated sales transactions and investors’ concerns about them. Luckin requested a hearing, which is expected to occur in approximately 30 to 45 days.

The stock resumed trading on May 20, ending a trading halt that Nasdaq had enacted on Luckin’s shares on April 7 after news of the accounting scandal broke. Luckin’s stock price went on to plunge further once more investors had the opportunity to sell their shares.Despite the stock’s devastating losses in recent weeks, there’s a strong possibility that even more pain could lie ahead for Luckin Coffee’s shareholders. Some investors, such as Quo Vadis Capital president John Zolidis, believe that the end result of the company’s accounting scandal could be a "complete wipe-out for equity holders.”

"Leaving aside the fraud, the figures that are available suggest that Luckin Coffee never had a viable business model,” Zolidis told MarketWatch on Thursday. "The company grew too fast and acquired customers via promotional offers, without ever proving the economics.”

To Zolidis’ point, Luckin Coffee has failed to generate sustained operating profits during its short life as a public company — and with its mounting losses, it’s possible it could descend into bankruptcy before it’s ever able to do so.

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