Why Coupang Stock Was Down Almost 18% in August
Shares of Korean e-commerce company Coupang (NYSE: CPNG) were down 17.5% in August, according to data provided by S&P Global Market Intelligence. The company reported quarterly financial results early in the month, which caused the stock to drop.
On Aug. 11, Coupang reported results for the second quarter of 2021. In Q2, the company's revenue was up 71% year over year to almost $4.5 billion. This was slightly ahead of analyst expectations. However, it reported a quarterly net loss of $518 million, which was a far bigger loss than what Wall Street anticipated.
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Source Fool.com
