Many know China as a nation of tea-drinkers. But coffee consumption has begun to take off in the country, and so quite a number of investors have taken an interest in shares of Luckin Coffee (NASDAQ:LK).Source: Keitma / Shutterstock.com On its first day of trading in May 2019, LK stock opened at $25. The share price hit an all-time high of $50.38 in mid-January. However, year-to-date LK stock is down over 38%. And the shares are now hovering around $24. Let’s take a look at the short- and long-term outlook for this coffee chain.InvestorPlace – Stock Market News, Stock Advice & Trading Tips Q3 Results Showed GrowthLuckin Coffee was founded in 2017. In less than three years, it has grown from a single trial store