Luckin Coffee, a massive but unprofitable Chinese Starbucks competitor, soars 47% in its debut

Luckin Coffee opened for trading at $25 a share on Friday after pricing its initial public offering at $17.Shares trade under the ticker LK on the Nasdaq.
The two-year-old startup, which in April received a round of funding from BlackRock, is the latest in a long line of  money-losing IPOs to hit the US market this year.
The company competes with Starbucks in China.
Find out more about Luckin Coffee.
Luckin Coffee, the coffee startup that competes with Starbucks in China, soared 47% in its