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CPNG Stock: Why Are Coupang Shares Getting Clobbered Today?

Coupang (NYSE:CPNG) stock is falling on Monday despite a lack of news from the South Korean e-commerce company.

The Coupang (CPNG stock) campus in Silicon Valley, California.

Source: Michael Vi / Shutterstock.com

Searching around the company’s sources, there’s no press releases or SEC filings that would explain what’s happening with the stock today. It also doesn’t look like there’s any recent news that would explain why shares of CPNG stock are slipping today.

What could be affecting CPNG stock today is an SEC filing from last week. In that filing, investors learned of insider selling from the company. It’s possible that this news is having a delayed effect on the stock following its release.

Another thing to keep in mind is the pressure that the stock market is experiencing lately. This comes from the Federal Reserve announcing plans to increase interest rates. That has the market wavering as some traders sell off shares from various companies.

Of course, we also have to look at the company’s stock movement today. While the shares are down, it comes with heavy trading of the shares. This has some 5.6 million shares of the stock on the move as of this writing. For comparison, the company’s daily average trading volume is closer to 7.4 million shares.

CPNG stock is down 10.1% as of Monday morning and is already down 18.7% since the start of the year.

Investors on the lookout for more hot stock market news from today are in luck!

We’ve got all the most recent stock coverage that traders need to know about for Monday! That includes why Lululemon Athletica (NASDAQ:LULU) stock is falling today, what’s pulling down EV stocks, as well as the news sending shares of Ocugen (NASDAQ:OCGN) higher. You can find out more about that by checking out the links below!

More Stock Market News for Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/01/cpng-stock-why-are-coupang-shares-getting-clobbered-today/.

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