5 Stocks Under $50 To Buy Now

In this article, we will take a look at the 5 stocks under $50 to buy now. To read our analysis of the recent market activity, you can go to the 11 Stocks Under $50 to Buy Now.

5. Coupang, Inc. (NYSE:CPNG)

Share Price as of November 23: $16.31

Number of Hedge Fund Holders: 55

Coupang, Inc. (NYSE:CPNG) is a leading ecommerce company based in Seoul, South Korea. It offers a variety of ecommerce related services including same-day and next-morning delivery of groceries and general merchandise, delivery of prepared foods through Coupang Eats, and video streaming through Coupang Play.

According to Insider Monkey data on 910 hedge funds, 55 hedge funds held shares of Coupang, Inc. (NYSE:CPNG), valued at $3.6 billion, as of Q3 2023. The largest shareholder was Lee Ainslie’s Maverick Capital holding 77 million shares valued at $1.3 billion.

Like other stocks under $50 such as, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC), and Teck Resources Ltd (NYSE:TECK), hedge funds are also loading up on Coupang, Inc. (NYSE:CPNG) shares.

In its Q3 2023 investor letter, Baron Funds, an investment management firm, made the following comments about Coupang, Inc. (NYSE:CPNG):

“When we originally invested in Coupang, our thesis was constructed around the company’s wide product selection, low prices, and unrivaled convenience thanks to its investments in an end-to-end infrastructure that covers over 70% of Korea’s population, enabling over 99% of orders to be delivered within one day or less, rather than the industry norm of two to three days, driving customer satisfaction, which translates to higher customer retention rates and lifetime value. We thought that Coupang would continue to gain market share in the U.S. $500 billion-plus Korean retail market, while expanding its offerings into additional categories, expanding its ecosystem via a third-party marketplace, and continuing to invest in infrastructure density to further capture inefficiencies, enhancing the customer experience, and improving profit margins. The company has since outperformed our expectations, growing its market share to 25% (#1 in the industry), despite not being a first mover, while building an unrivaled user experience with 99.8% of products delivered the next day (with the majority of them by dawn) and becoming profitable significantly faster than we expected. Our biggest takeaway from the visit was that despite all of Coupang’s success, there is still a long runway of growth ahead.”