Why Coupang Stock Was Climbing Today
Coupang(CPNG) The Motley Fool·2024-04-12 17:35Shares of the South Korean e-commerce company jumped on a price hike.Shares of Coupang (CPNG 11.49%) were on the move today as the South Korean e-commerce company jumped on reports that it was raising the membership fee for its Amazon Prime-like Wow service.As of 12:39 p.m. ET, the stock was up 10% on the news. Coupang pulls a big profit leverAccording to The Korea Times, Coupang is raising the monthly price on its Wow membership by 58% to $5.74 a month. The move has attracted controversy for being overly a ...