Why Coupang Stock Jumped 8% Today
Shares of South Korean e-commerce leader Coupang (NYSE: CPNG) was up 7.8% today as of 12:20 p.m. ET. Except for the appointment of a couple of new board of director members, there has been little in the way of financial news from Coupang since the company reported full-year 2021 earnings a few months ago. The market is in turmoil because of inflation, and the U.S. Federal Reserve is aggressively raising interest rates to try and cool off the economy.