Coupang IPO: Early Investors Stanley Druckenmiller, Bill Ackman Earn Big
Mar 12 2021 · 12:25 UTC by John Kiguru · 3 min read
Photo: NYSE / Twitter
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American investors Stanley Druckenmiller and Bill Ackman are set for a huge payday after a record-breaking Coupang IPO. The company debut at $35 on Thursday, surpassing its initial target.
South Korean e-commerce giant Coupang raised $4.6 billion in its IPO on Thursday. Coupang further surpassed expectations of selling at $32-$34 a share by opening at $35 and closing the day as high as $41 (CPNG). At the time of press, its shares have pushed higher and are trading for $49.After selling 130 million shares, the company now has a market capitalization of $88.4 billion. It becomes the largest IPO in the US this year. As early big investors in the company, serial investors Bill Ackman and Stanley Druckenmiller are set to see huge profits
Bill Ackman, Stanley Druckenmiller invested in Coupang well before IPO
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Stanley Druckenmiller, Bill Ackman Are Among the Big Early Investors in Hot IPO Coupang
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Covid-19 pandemic continues to impact the company s business
Bill Ackman s Pershing Square Capital Management reduced its holdings in Starbucks
Starbucks (NASDAQ: SBUX) shares extended their correction from the recent highs while the Wall Street analyst target is around 6% above the current price. There are certainly better long-term investment opportunities at the moment, even though Starbucks has an excellent position in the market.
Fundamental analysis: Covid-19 pandemic continues to impact the company’s business
Starbucks is an American multinational chain of coffeehouses and roastery reserves that operates over 30,000 locations worldwide in more than 70 countries. Starbucks shares have been moving in an uptrend last several months, but it is important to say that the Covid-19 pandemic continues to impact its business.
American-Israeli architect and designer Neri Oxman will open a laboratory at 787 11th Avenue, the 1920s New York building renovated by Rafael Viñoly Architects.
Developers Georgetown Company has announced that Neri Oxman will be one of two anchor tenants for the office project in Manhattan.
Oxman, the director of MIT Media Lab s Mediated Matter group, plans to use her new 36,000-square-foot laboratory to research, design and implement inventions to address complex challenges across product, architectural, urban and planetary scales .
Top: 787 11th Avenue. Above: director of MIT Media Lab Neri Oxman. Photo courtesy of TED Talks
Uruguayan architect Rafael Viñoly has renovated the building on Manhattan s West Side, adding a glazed extension and a rooftop garden.