Don't push your luck(in)... Luckin Coffee faked its 2019 sales numbers by $310M (#FakeBrews) — so shares have been halted from trading since April when it plunged 80% on the fraud. Yet it still opened 10 stores every day last quarter. And it's pivoting: The techie coffee chain is becoming a digital convenience store, now selling lifestyle products from sanitizing wipes to beauty masks in the app — seems random, but random add-ons to apps are more common in Chinese tech.
Cult classic movie Office Space... may become a historical fiction. Last week, Twitter announced it's giving employees the option to WFH forever. But companies that rely on you coming to the office — aka the "Work from Work" — could lose big if permanent WFH becomes a trend. JP Morgan and Morgan Stanley both said it's highly unlikely that all employees will return to offices post-corona. Commercial real estate giant CBRE's stock fell nearly 13% for the week, while Office Depot is planning store closures and 13K job cuts by 2023.