China's Luckin Coffee Ousts CEO, COO After Accounting Lapses

The video discusses a major scandal involving the CEO and COO of a rapidly growing company, leading to their removal and resignation from the board. The company, which expanded from a small chain to over 4500 stores, faces challenges due to its reliance on discounts. The scandal has caused an 80% drop in stock value and regulatory scrutiny from the US and China. The company is also impacted by the coronavirus, delaying earnings reports and facing potential delisting or bankruptcy.

What challenges does the new acting CEO face following the scandal?

What external factors, besides the scandal, are affecting Luckin Coffee's operations?