China’s Luckin Coffee Takes on Starbucks at Home and Abroad

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Luckin Coffee $LK halted at 9:15 a.m Eastern time.Tuesday for pending news. – still halted at Wednesday Close

Was up 0.9% in premarket trading Tuesday before it was halted

There is no time limit for how long a stock can be halted for pending news.

Downloads of Luckin’s app have skyrocketed in recent days as Chinese consumers rush to claim the free drink offered as an incentive to add the app, according to Reuters.

Luckin and the Nasdaq Exchange declined to comment.