China’s upstart Luckin Coffee Inc. grew at a blinding pace. It opened stores faster than Starbucks Corp., doubled its valuation to $12 billion eight months after going public and pleased its big-name investors in the U.S.Then, on April 2, Luckin said many of its sales had been faked. The shock brought a screeching stop to the three-year-old...

Source: Wall Street Journal May 28, 2020 16:07 UTC