It happened Monday afternoon as the victim's mother was inside the laundromat doing laundry.
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Authorities believe the motive could be robbery or gang activity.
They say the suspect approached the victim and had a brief conversation before the stabbing. He then pedaled away on a bicycle, last seen heading north on Long Beach Boulevard.
Authorities aren't ruling anything out but believe the motive could be robbery or gang activity.
However, they say the 16-year-old victim didn't appear to have gang ties.
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The superintendent of the Lynwood Unified School District confirms the 16 year old was a student in the district for many years before recently leaving the district.
Investigators are now going through surveillance footage -- hoping to find some clues.
"To approach somebody and attack them in broad daylight in a public business while open - it's very bold," said Lt. Rodney Moore with the Los Angeles County Sheriff's Department homicide bureau. "He is obviously dangerous."