Coupang Surges on Multiple Upgrades and Promising Growth Trends

Coupang (CPNG, Financial) surged by 5% to reach multi-year highs after receiving a double upgrade from Bernstein, moving from "Underperform" to "Outperform." This upgrade follows four additional upgrades from other brokerages in 2024. The South Korean e-commerce giant, often compared to Amazon (AMZN, Financial), has experienced a significant rebound this year after a prolonged correction post-IPO in 2021. CPNG has risen over 60% year-todate, driven by strong quarterly performance. Despite a brief decline af ...