As Coupang's stock price fell to its lowest level in two years amid a series of controversies, including a large-scale personal data leak, Korea's individual investors who invest in overseas stocks have moved to so-called "buy the dip."
According to Korea Securities Depository (KSD) on the 26th, from the 2nd to the 23rd of this month, the net purchases of Coupang shares by domestic individual investors totaled $25,563,496 (about 36.8 billion won). With this, Coupang made its first appearance in the top 50 net buys by Korean retail investors trading U.S. stocks. Since its 2021 listing, Coupang had not entered the ranking through last year.
Coupang's share price fell 37.5%, from $31.97 in late Oct. last year to $19.99 on the 23rd of this month. The decline has continued since the company officially released the fact of a large-scale personal data leak on Nov. 20 last year. After the incident, a so-called "Tal-pang" movement emerged, but some saw the stock as excessively sold off and moved to buy.