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Why Shares of Coupang Are Falling Today

·1 min read
Why Shares of Coupang Are Falling Today
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Shares of South Korean e-commerce company Coupang (NYSE: CPNG) traded more than 10% lower at one point this afternoon after the company reported its earnings results from the first quarter of 2021. Coupang, which recently went public in March, gives customers the ability to get millions of items delivered on the same day they order them online. Despite the losses, Coupang CEO Bom Kim said on the company's earnings call that the company planned to further invest to strengthen its infrastructure in order to enhance its fast delivery model and wide selection of items.