AMTD Digital issues 'thank you note' to investors as shares trade around 23,650% above IPO price

Coupang Inc.
CPNG,
-7.02%

shares rose nearly 8% in the extended session on Wednesday after the South Korean e-commerce giant swung to a surprise profit in its third quarter. Coupang earned $91 million, or 5 cents per share, in the quarter, compared with a loss of $324 million, or 19 cents per share, in the same period last year. Revenue rose 27% to $5.1 billion, the company said. The FactSet consensus calls for a loss of 3 cents per share on sales of $5.2 billion. Coupang has invested “billions of dollars … over the past seven years to build an unrivaled network that integrates technology, fulfillment and last-mile logistics,” founder and CEO Bom Kim said in a statement. “We will continue to invest in process optimization and automation, including machine learning and robotics, to deliver even richer experiences and lower prices for our customers.” Coupang, often called the “Amazon of South Korea,” had its initial public offering in March 2021

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