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Coupang Stock (NYSE:CPNG): Should You Ride This Rocket Higher?

Maybe you’ve seen the trending stock tickers today and noticed that Coupang (NYSE:CPNG) stock was on a rocket ride higher. There’s nothing wrong with momentum, but investors should look into the reason for the move and make their own decisions. I am bearish on CPNG stock, and as we delve into what’s actually going on with Coupang, you might decide to find better investment opportunities elsewhere. The easiest way to describe Coupang is as South Korea’s version of Amazon (NASDAQ:AMZN). It’s a pop

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Coupang Stock Scores Improved Relative Price Performance; Still Shy Of Benchmark

Coupang Stock Scores Improved Relative Price Performance; Still Shy Of Benchmark
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Coupang's Billionaire Founder Sees Wealth Soar More Than Sixfold After IPO

Bom Kim, who founded the e-commerce giant Coupang, was the biggest gainer on this year’s list of Korea’s richest. His net worth jumped to $6.4 billion after the company went public on the NYSE in March.

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Coupang IPO: VC explains bullish investment case for "Amazon of Korea"

But in the eyes of venture capitalist Eric Kim, Coupang has already been "out-Amazoning Amazon" in Korea for a while.
SoftBank-backed Coupang, which raised $4.6 billion in IPO proceeds, had an extremely auspicious start on the New York Stock Exchange on Thursday. Shares rocketed as much as 84% intraday before paring gains and closing up 42% on the day.
The ten-year-old company is led by billionaire Bom Kim, who dropped out of Harvard Business School after just six months to capture the massive e-commerce opportunity in South Korea.
Eric Kim first met Bom Kim in 2011, also just six months after Coupang launched. Then, as a managing director at the long/short hedge fund Maverick Capital, Eric led the early-stage investment in Coupang on behalf of Maverick and stayed on the board at Coupang on Maverick's behalf until 2017.

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