Luckin Coffee Inc (NASDAQ:LK), the rapidly-growing Chinese coffee chain priced at $17 Friday and hasn’t looked back. The company, which lets customers order via an app and get coffee delivered to their desks, is the second-largest coffee chain in China behind Starbucks Corp (NASDAQ:SBUX). It opened 2,400 stores in just 18 months, according to the Wall Street Journal, giving it about two-thirds as many locations in China as Starbucks. The company issued 30 million shares, pricing at the high end of its range. .
Investors came back for a second cup, sending shares nearly 40% higher to $23.66.
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Fastly Inc (NYSE:FSLY) shot out of the gate Friday after pricing at the high end of its range overnight. The cloud computing services provider offers content delivery, security, video streaming and other internet services to companies including The New York Times Co (NYSE:NYT). It issued 11.25 million shares at $16, and traders have taken the baton.
The stock rocketed 50% higher to $24.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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