3 Reasons to Buy Coupang, and 1 Reason to Sell
Coupang (NYSE: CPNG) has been a frustrating stock to own since its IPO. The South Korean e-commerce stock went public at $35 this March, started trading at $63.50, and hit its all-time high of $69 that same day.
But today, Coupang's stock trades nearly 20% below its IPO price. Concerns about its decelerating post-pandemic growth, lack of profits, and its saturation of the South Korean market caused the stock to lose its luster.
SoftBank (OTC: SFTB.Y), which owned 37% of Coupang at the time of its public debut, also exacerbated that pressure by selling $1.69 billion in shares at a 15% discount to its IPO price last month. Does that sell off indicate it's time for investors to abandon Coupang's sluggish stock? Let's examine three reasons to buy the stock -- as well as one reason to sell it -- to decide.
Source Fool.com
