Why Did SoftBank Sell So Many Shares of Coupang?

·4 min read
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.

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