Key Stats for Coupang Stock
- Price Change for Coupang stock: -4.7%
- $CPNG Share Price as of Dec. 16: $23
- 52-Week High: $34
- $CPNG Stock Price Target: $35
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What Happened?
Coupang (CPNG) stock continued its slide on Tuesday, marking the sixth straight day of losses as South Korea’s largest-ever data breach continues to hammer investor confidence.
The e-commerce giant initially thought around 4,500 customer accounts were affected when it detected unauthorized access on November 18. That number has since exploded.
Further investigation revealed that personal information tied to as many as 33.7 million customers may have been exposed, affecting more than half of South Korea’s population.
The leaked data includes names, phone numbers, email addresses, shipping details, and some order history. Coupang says no credit card information or login credentials were compromised, but the scope of the breach is staggering.
The incident apparently started as early as June and involved an overseas server. Authorities say hackers repeatedly bypassed Coupang’s systems over five months before the company caught on.
South Korea’s internet authority and the Ministry of Science and ICT have launched investigations, while police raided Coupang’s headquarters multiple times.
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What the Market Is Telling Us About Coupang Stock
The breach triggered sharp political backlash. President Lee Jae Myung publicly criticized Coupang for failing to detect the intrusion sooner.
Media reports have linked a former Coupang employee—a Chinese national who worked on authentication systems—to the case, though Coupang hasn’t confirmed the suspect’s identity.
Park Dae-jun, CEO of Coupang’s Korean operations, resigned last week, taking responsibility for the breach. He’d been named sole CEO just seven months earlier.
The company quickly tapped Harold Rogers, chief administrative officer and general counsel of its U.S. parent, as interim head to stabilize operations and rebuild customer trust.
Lawmakers warn that Coupang stock could face significant financial consequences, with potential fines reaching up to 1 trillion won ($681 million) if data protection violations are confirmed.
The government has promised strict sanctions, and the case has reignited debates over cybersecurity standards at major South Korean corporations.
Morgan Stanley’s move to cut its price target on Coupang stock from $35 to $31 reflects the “heightened risk” surrounding the breach.
Analyst Seyon Park said the firm lowered estimates and baked in higher cybersecurity spending going forward. However, Morgan Stanley maintained its ‘Overweight’ rating, suggesting the firm still believes in the long-term story despite near-term headwinds.
The six-day losing streak shows investors are treating this breach seriously. While Coupang insists core operations won’t be disrupted, the regulatory scrutiny, leadership shakeup, and potential massive fine create real uncertainty.
For now, Coupang stock looks headed lower until the company can demonstrate that it has the situation under control and customer trust is stabilized.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
