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South Korean e-commerce and logistics company Coupang (NYSE: CPNG) had its initial public offering (IPO) during the height of the bull market in 2021. It quickly surpassed a market capitalization of $75 billion, making it one of Wall Street's largest IPO stocks that year.
But sometimes, the bigger they are, the harder they fall. The stock has slipped 65% and has been an epic disappointment thus far.
This doesn't mean Coupang isn't worth your attention; there are some excellent aspects of the business that could still translate to long-term returns for shareholders.