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Why Coupang Stock Plummeted Today
Shares of leading South Korean e-commerce juggernaut Coupang (NYSE: CPNG) were down 7% as of 2:30 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence.While there was no direct news tied to the company, the drop comes from worries about President Yoon Suk Yeol's ouster in South Korea and a wobbly stock market in the United States stemming from Wednesday's tariffs.However, since neither of these events explicitly impacts Coupang's operations, I'd argue that this sell-off creates an opportunity for investors, with the company's shares 25% below their one-year highs.Continue reading
Shares of leading South Korean e-commerce juggernaut Coupang (NYSE: CPNG) were down 7% as of 2:30 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
While there was no direct news tied to the company, the drop comes from worries about President Yoon Suk Yeol's ouster in South Korea and a wobbly stock market in the United States stemming from Wednesday's tariffs.
However, since neither of these events explicitly impacts Coupang's operations, I'd argue that this sell-off creates an opportunity for investors, with the company's shares 25% below their one-year highs.
