Seoul, South Korea-based e-commerce company Coupang, Inc. (CPNG) went public on March 11, 2021. Its shares soared on their market debut due to a pandemic-induced e-commerce boom. While the e-commerce giant offering topped $84 billion after surging 40% in its mega listing, it has since lost roughly half its value. Its stock’s price has slumped 56.2% over the past year and 18.4% over the past month. Although CPNG’s active customer growth accelerated year-over-year in the last reported quarter, its losses have ballooned.
Closing its last session at $19.24, CPNG’s stock is trading 61.9% below its 52-week high of $50.5, indicating bearishness. It is currently trading lower than its 50-day and 200-day moving averages of $21.52 and $29.57, respectively, which indicates a downtrend.
