Could Coupang Be a Millionaire-Maker Stock?
Coupang (NYSE: CPNG), the largest e-commerce company in South Korea, went public in March. The 11-year-old company priced its IPO at $35 per share, and the stock started trading at $63.50.
But that initial enthusiasm quickly faded. The stock closed at $49.25 on the first day, and is now only worth about $40. Expectations for slower growth in a post-pandemic market, a mixed earnings report in May, and concerns about its soaring expenses and widening losses all dragged down the shares.
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Source Fool.com
