Advertisement
Australia markets open in 38 minutes
  • ALL ORDS

    8,065.50
    +113.20 (+1.42%)
     
  • AUD/USD

    0.6590
    -0.0010 (-0.15%)
     
  • ASX 200

    7,793.30
    +110.90 (+1.44%)
     
  • OIL

    78.36
    -0.02 (-0.03%)
     
  • GOLD

    2,323.30
    -0.90 (-0.04%)
     
  • Bitcoin AUD

    94,564.05
    -1,471.91 (-1.53%)
     
  • CMC Crypto 200

    1,295.38
    -69.74 (-5.11%)
     

Why Did SoftBank Sell So Many Shares of Coupang?

Why Did SoftBank Sell So Many Shares of Coupang?

Coupang's stock opened at $63.50 per share on its first day of trading, far above its IPO price of $35, and hit an intraday high of $69 before closing at $49.25. Today, Coupang's stock trades in the high $20s, but remains a divisive investment. Last month, SoftBank sold a whopping 57 million shares of Coupang at an average price of $29.69 per share for total proceeds of $1.69 billion.