Why Coupang Stock Was Moving Higher Today
Shares of Coupang (NYSE: CPNG) were moving higher today after the technology company reported better-than-expected results in its fourth-quarter earnings report. As of 11:44 a.m. ET, the stock was up 4.6%.
Image source: Getty Images.
Coupang -- which is headquartered in Seattle, operates in several countries, and generates sales primarily in South Korea -- has embraced an Amazon-like business model, with e-commerce anchoring a number of satellite businesses. It said that revenue in the quarter rose 21%, or 28% on a currency-neutral basis, to $7.96 billion. That was short of estimates at $8.14 billion, but that may be due to greater-than-expected currency headwinds.
Source Fool.com
