Coupang rallies as record fine removes uncertainty

AI핵심 요약

• ·Coupang headquarters in Seoul (Im Se-jun/The Korea Herald) Coupang Inc.
• ·shares surged after South Korea's privacy regulator imposed a record fine on the US-listed e-commerce giant over a massive customer-data leak, with investors reading the penalty as a coda to a six-month overhang on the stock.
• ·Shares of Coupang closed at $17.25 on Friday, up 14.1 percent from the previous day on the New York Stock Exchange, marking one of the company's strongest single-day gains in recent months.
• ·The rally came despite the Personal Information Protection Commission's decision to levy a 624.7 billion won ($409 million) penalty, the largest privacy-related fine ever imposed by a Korean government agency.
• ·The rally laid bare the extent to which investors had been preparing for the worst, with Coupang shares having fallen from roughly $27 in late December to as low as $15 earlier this month, just above their 52-week low of $14.92.