• Luckin Coffee is planning to open a cafe in Taipei City, Taiwanese outlets reported.
• The development comes as the Chinese chain expanded internationally, opening its first U.S. outlet in June.
• The LKNCY ticker drew heavy chatter on Stocktwits early Wednesday.

U.S.-listed shares of Chinese coffee chain Luckin Coffee drew buzz on Stocktwits early Wednesday, with the ticker climbing to the platform’s fifth-most-trending spot after users flagged Taiwanese media reports about the company opening its first cafe in the island country.

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Luckin Opening In Taipei?

Luckin is expected to debut an outlet in Taipei City next month, according to Taiwanese outlets EBC News and CNYES, which noted growing social-media chatter and references to new job listings tied to the launch.

The reports said that social media users noted Luckin’s job postings by a Taiwanese company called Shunyu Holdings Co., Ltd. Meanwhile, the country’s economic affairs ministry has said it has not approved Luckin’s investment in Taiwan, the CNYES report noted.

Another Showdown With Starbucks

The potential development would mark another showdown with Starbucks, which also has a cafe in Taipei City. 

Luckin opened its first cafe in the United States in June and is planning to relist its shares on a major stock exchange in the country (Luckin’s was listed on Nasdaq between May 2019 and June 2020).

US Stock Relisting

As of now, Luckin’s shares trade over-the-counter in the U.S. A relisting of its American depository receipts (ADRs), which trade on a major stock exchange, unlike the OTC shares, would have certain implications.

Investors and analysts could compare Starbucks’ performance and stock with Luckin’s, and retain the option to invest in another multinational coffee chain besides Starbucks. 

Meanwhile, Lunkin is expanding internationally. It opened cafes in Singapore, Malaysia, and Hong Kong over the last two years. 

On Stocktwits, the retail sentiment for LKNCY was ‘bearish,’ with ‘low’ message volume as of the last reading. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<