CPNG - The Best Growth Stock to Buy With $1000 Right Now
2024-05-05 03:02:00 ET
Korean e-commerce giant Coupang (NYSE: CPNG) has seen its shares rocket 41% higher this year. The underfollowed growth stock put up another strong earnings report and then announced an upcoming price hike to its Rocket WOW subscription membership program. At a current stock price of $23, investors are valuing the company at a market cap of approximately $41 billion.
Despite this strong start to 2024, I still think Coupang stock is dirt cheap. Here's why the South Korean retailer may be the best growth stock to put $1,000 into right now.
Coupang operates a similar business model to Amazon 's but in South Korea. It has a sprawling logistics network that delivers items quickly and cheaply to its large customer base, a premium subscription service for free delivery, and grocery delivery, just like its North American competitor.
For further details see:
The Best Growth Stock to Buy With $1,000 Right Now