CPNG - Coupang: The Turn To Profit
2024-02-22 23:27:07 ET
Summary
- Coupang, a SoftBank-backed startup and the "Amazon of South Korea," is a new buy for me.
- The company is scaling warehouse automation and is serving its customer bases ever more efficiently year after year.
- CPNG's similarity to Uber's thesis is the turn to profitability combined with a price-to-sales ratio [p/s ratio] of less than 1.5x.
- At 69 hours per week, South Korea is considered the most overworked nation in the world. Delivered goods could have higher demand than any other country on earth.
Turning the corner
I don't buy many foreign stocks. The story has to be compelling to draw me in. Coupang, Inc. (CPNG) has elements aligning that remind me of Uber's ( UBER ) turn to profitability...
Coupang: The Turn To Profit