Buying This Stock Could Be the Smartest Thing You Ever Do
When Coupang (NYSE: CPNG) went public in March, the fast-growing online retailer was often called "the Amazon (NASDAQ: AMZN) of South Korea." It's a tag that made sense given Coupang's market dominance on its home turf.
The stock nearly doubled on its first day of trading -- hitting $69 after pricing its shares at $35 -- but it's been largely downhill since then. Coupang shares on Monday closed 24% below its IPO price, and 61% below its opening day high.
There is still a lot to like when it comes to Coupang, and in many ways it's beating Amazon at its own game. Most broken IPOs don't bounce back, but Coupang has all of the right ingredients to live up to the initial euphoria. Buying this out-of-favor stock could be the best thing you can do for your portfolio. Let's take a closer look.
Source Fool.com
