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Why Coupang Stock Soared Today

TheMotleyFool

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Shares of Coupang (NYSE: CPNG) rocketed over 40% on Thursday, marking a successful initial public offering (IPO) for the South Korean e-commerce star.

Coupang's shares closed their first day of trading at $49.25. That's up from the company's $35 IPO price, which was already up significantly from its initial target range of $27 to $30.

Investors jumped at the chance to buy Coupang's shares upon their stock-market debut. Image source: Getty Images.

Source Fool.com

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