Here’s What Makes Coupang (CPNG) a Safe Investment

Baron Funds, an investment management company, released its “Baron International Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 11.51% (Institutional Shares), compared to a 9.91% decline for its principal benchmark, the MSCI ACWI ex USA Index. Due to global weakness in equities and bonds, the fund lagged behind its two benchmark indices, the all-cap growth proxy and MSCI ACWI ex USA Index, in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds discussed stocks like Coupang, Inc. (NYSE:CPNG) in the Q3 2022 investor letter. Headquartered in Seoul, South Korea, Coupang, Inc. (NYSE:CPNG) is a Korea-based e-commerce business. On November 1, 2022, Coupang, Inc. (NYSE:CPNG) stock closed at $17.24 per share. One-month return of Coupang, Inc. (NYSE:CPNG) was -11.86%, and its shares lost 42.80% of their value over the last 52 weeks. Coupang, Inc. (NYSE:CPNG) has a market capitalization of $30.511 billion.

Here 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.”

Coupang, Inc. (NYSE:CPNG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Coupang, Inc. (NYSE:CPNG) at the end of the second quarter which was 39 in the previous quarter.

We discussed Coupang, Inc. (NYSE:CPNG) in another article and shared the best eCommerce stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.