Excerpt from Barron’s quoting DataTrek’s Nick Colas:
…. “Then there’s increasing competition U.S. companies are facing from Chinese upstarts. DataTrek co-founder Nicholas Colas wrote in a note to clients this week that China ride-sharing company Didi Chuxing’s push into Latin America will challenge Uber Technologies (UBER).
The popularity of Chinese internet technology company, ByteDance, and its TikTok video app has turned up the heat on Facebook (FB). Domestic upstart Luckin Coffee (LK) has just as many locations as Starbucks (SBUX) in China, according to Colas, who cited data from Thinknum”….
Read the full article here in Barron’s!