CPNG - Can This Asian E-Commerce Stock Make You a Millionaire?
2023-05-21 07:25:00 ET
Most investors have the same overarching goal: To grow their wealth. Some make bets on high-growth stocks like Amazon (NASDAQ: AMZN) , which is up close to 10x in the last 10 years and over 100x since its initial public offering (IPO) in 1997. Many investors became millionaires by buying high-growth stocks like Amazon and holding for the long term.
So, what stock is the next Amazon? I think I might have an answer in the South Korean e-commerce platform Coupang (NYSE: CPNG) . Here's why buying this recent IPO and holding the stock long-term might just help you retire a millionaire.
Coupang operates an e-commerce marketplace similar to Amazon in South Korea. Like its North American counterpart, it built its own warehouses and delivery network to provide a vertically integrated offering. Because of this dense logistics network, Coupang can provide shoppers with same-day and next-day delivery on almost all orders, which improves its value proposition versus competitors. The e-commerce specialist also added even more selections through the Coupang marketplace like grocery and meal delivery, which expands its revenue potential from its South Korean customer base.
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Can This Asian E-Commerce Stock Make You a Millionaire?