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Stock impact report

Why Coupang (CPNG) Shares Are Getting Obliterated Today [Yahoo! Finance]

Coupang, Inc. Class A (CPNG) 
Company Research Source: Yahoo! Finance
The breach, which exposed the personal data of over 33 million customers, prompted CEO Park Dae-jun to resign. In response to the security incident, Morgan Stanley lowered its price target on the stock to $31 from $35, citing potential damages and the need for higher spending on cybersecurity. The situation worsened as South Korean police raided the e-commerce company's headquarters. Public opinion also soured, with surveys showing strong support for a government investigation. Additionally, the head of the Fair Trade Commission signaled intent to impose substantial fines on the company, adding to investor concerns about the financial impact of the breach. The shares closed the day at $24.33, down 5.1% from previous close. The stock market overreacts to news, and big price drops can present good opportunties to buy high-quality stocks. Is now the time to buy Coupang? Access our full analysis report here Coupang's shares are not very volatile and have only had 9 moves greater th Show less Read more
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