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Coupang IPO: Early Investors Stanley Druckenmiller, Bill Ackman Earn Big
Mar 12 2021 · 12:25 UTC by John Kiguru · 3 min read
Photo: NYSE / Twitter
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American investors Stanley Druckenmiller and Bill Ackman are set for a huge payday after a record-breaking Coupang IPO. The company debut at $35 on Thursday, surpassing its initial target.
South Korean e-commerce giant Coupang raised $4.6 billion in its IPO on Thursday. Coupang further surpassed expectations of selling at $32-$34 a share by opening at $35 and closing the day as high as $41 (CPNG). At the time of press, its shares have pushed higher and are trading for $49.After selling 130 million shares, the company now has a market capitalization of $88.4 billion. It becomes the largest IPO in the US this year. As early big investors in the company, serial investors Bill Ackman and Stanley Druckenmiller are set to see huge profits
Billionaire Stan Druckenmiller’s Top 10 Stock Picks
In this article we take a look at billionaire Stan Druckenmiller’s top 10 stock picks. The billionaire is making waves as he recently revealed that he is long Bitcoin and considers the cryptocurrency a valuable asset class. You can skip our detailed discussion of Druckenmiller’s history, his hedge fund’s performance and go to
Stanley Freeman Druckenmiller is an American billionaire and hedge fund manager who founded Duquesne Capital in 1981. For 30 years the hedge fund posted excellent returns, but in 2010 the billionaire announced to shutter the fund citing “emotional toll” of not being able to come up to the high expectations of investors. At the time of closing, the hedge fund had $12 billion in managed securities. Druckenmiller’s hedge fund had posted average gains of 30% over two decades of its operations before it closed, an excellent record when compared to peers. In 2008, when most hedge funds suffered hea
Bitcoin Will Never Be Real Money, Says UBS, Because It’s Too Volatile
Cryptocurrency isn’t a stable source of value, so people can’t depend on it, the bank’s top economist charges.
Cryptocurrencies might never be able to work as actual money, according to UBS. Reason: Crypto’s volatility renders it unreliable as a store of value.
The “fundamental flaw” inherent in cryptocurrencies is that supply can’t be reduced when demand is slumping, in most cases, said Paul Donovan, chief economist at UBS Global Wealth Management, in a video on the bank’s website. That means they can’t be considered currencies, he said.
10 Best Stocks To Buy For 2021 According to Billionaire Stan Druckenmiller
Billionaire investor Stanley Druckenmiller is one of the all-time great investors. Druckenmiller and his colleague George Soros worked together for years and established a history of generating huge gains from macroeconomic trends. The two legendary investors have famously bet against the British pound in 1992 that resulted in massive profits.
While the billionaire Druckenmiller has closed Duquesne Capital in 2010 and currently runs a family office to manage his fortune, his stock pickss and market analysis are worth considering. You may not remember but back in 2015 when David Einhorn was still an influential hedge fund manager and shorting Amazon, Druckenmiller talked positively about Amazon in an investment conference. You now know which hedge fund manager had a better eyesight. Also around the same time Warren Buffett was loading up on IBM shares. This time Druckenmiller was bearish on IBM (read this a