5 Best Affordable Stocks Under $30

In this article, we discuss 5 best affordable stocks under $30. If you want to read our detailed discussion about the stock market performance, head directly to 12 Best Affordable Stocks Under $30. 

5. Coupang, Inc. (NYSE:CPNG)

Number of Hedge Fund Holders: 47

Share Price as of August 18: $18.50

Coupang, Inc. (NYSE:CPNG) operates the largest e-commerce platform in South Korea. It operates through two major segments – Product Commerce and Developing Offerings. It offers consumer goods of multiple categories, along with fresh groceries, restaurant deliveries, and streaming services through different brands. On August 8, Coupang, Inc. (NYSE:CPNG) announced a Q2 GAAP EPS of $0.08 and a revenue of $5.8 billion, outperforming Wall Street estimates by $0.03 and $140 million, respectively. It is one of the top affordable stocks to invest in.

According to Insider Monkey’s second quarter database, a total of 47 hedge funds were bullish on Coupang, Inc. (NYSE:CPNG). This remained unchanged from the previous quarter. Lee Ainslie’s Maverick Capital is the biggest shareholder in the company, with 79.5 million shares worth $1.38 billion. 

This is what Baron Funds specifically said about Coupang, Inc. (NYSE:CPNG) in its Q3 2022 investor letter:

“Coupang, Inc. (NYSE:CPNG), the largest e-commerce platform in South Korea, contributed after reporting a sizable beat on second quarter earnings and raising annual EBITDA guidance. Upside was concentrated in e-commerce, where Coupang is now driving sequential margin expansion while maintaining a growth rate that is triple that of the industry average, lending credence to the investment case that Coupang will consolidate the fragmented e-commerce industry in Korea across both general merchandise and grocery, with healthy long-term margins to follow.”