Why These 10 Stocks Soared Today

6. Coupang, Inc. (NYSE:CPNG)

Coupang Inc. saw its share prices surge by 10.83 percent on Wednesday to end at $26.60 apiece as investors cheered its improved earnings performance for the first quarter of the year.

In a statement, Coupang, Inc. (NYSE:CPNG) said that net income attributable to shareholders during the period expanded by 2,040 percent to $107 million from $5 million in the same period last year, while net revenues increased by 11 percent to $7.908 billion from $7.114 billion year-on-year.

Additionally, Coupang, Inc. (NYSE:CPNG) announced that its board of directors recently approved a share buyback program amounting to $1 billion. The initiative was part of its broader capital allocation strategy to provide shareholder value. The buyback program only covers its Class A common shares.

Coupang, Inc. (NYSE:CPNG) is a technology company providing retail, restaurant delivery, video streaming, and fintech services to customers around the world under brands that include Coupang, Coupang Eats, Coupang Play, and Farfetch.