CPNG - More Likely to 5x First: Beyond Meat or Coupang
Beyond Meat (NASDAQ: BYND) and Coupang (NYSE: CPNG) both disappointed a lot of investors. Beyond Meat, an early mover in the plant-based meat market, went public at $25 a share in May 2019. It skyrocketed to an all-time high of $234.90 two months later, but it's now worth about $14.
Coupang, the e-commerce leader in South Korea, went public at $35 last March. It closed at an all-time high of $50.45 a few days later, but it now trades at about $16. Both stocks plunged as investors fretted over their slowing growth, lack of profits, and high valuations. Inflation, rising interest rates, and other macro challenges exacerbated that selling pressure.
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More Likely to 5x First: Beyond Meat or Coupang