CPNG - Coupang Actually Gained 15.4% in the Second Half of 2022. Is the Worst Over?
Shares of Coupang (NYSE: CPNG) gained 15.4% in the second half of 2022 despite continued losses for global equities, according to data from S&P Global Market Intelligence . The South Korean e-commerce company put up strong top-line growth and margin expansion in its latest quarter.
As of this writing, Coupang stock is down 64% since going public in early 2021.
Coupang runs a similar e-commerce business model to Amazon with a vertically integrated product offering to improve the customer value proposition for merchants and buyers on its marketplace. Since incorporating a little over a decade ago, it has invested billions of dollars in building out its square footage for e-commerce warehouses and increasing its driver/delivery fleet. Through the first nine months of 2022, it spent $700 million on capital expenditures.
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Coupang Actually Gained 15.4% in the Second Half of 2022. Is the Worst Over?