Coupang, 1.6% on the next day of listing on the New York Stock Exchange ↓… Dow rises and NASDAQ declines
(New York = Yonhap News) Correspondent Kang Gun-taek = Coupang, who entered the New York Stock Exchange (NYSE), fell on the 12th (local time), the second day of listing.
Coupang closed the deal at $48.47 per share, down 1.6% ($0.78) on the same day.
Coupang’s share price, which had hit $52.76 at the beginning of the market, turned downward, fell to $46.25 at one point in the afternoon, and then rebounded just before the close of the market, making up for a significant part of the decline.
According to Yahoo Finance, Coupang’s market capitalization on that day fell below 100 trillion won to 87.2 billion dollars (about 99.2 trillion won).
Coupang closed the market at $49.25, up 40.7% from the public offering price ($35) the day before, the first day of listing.
On that day, the Dow Jones 30 Industrial Average of the New York Stock Market rose 293.05 points (0.90%) to 32,778.64, breaking the new high point based on the closing price.
The Standard & Poor’s (S&P) 500 index rose 4.00 points (0.10%) to 3,943.34, while the technology stock-oriented Nasdaq index closed at 13,319.87, down 78.81 points (0.59%), showing a mixed trend.
As the 10-year Treasury bond rate rose to 1.64%, the highest level since February last year, it is analyzed as the aftermath of a decline in large IT stocks, which showed a recovery this week.
On the other hand, Boeing soared 6.8%, and banks such as Goldman Sachs (2.0%) and JP Morgan Chase (1.2%) also performed well, continuing the strong economic cycle.
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