But in the eyes of venture capitalist Eric Kim, Coupang has already been out-Amazoning Amazon in Korea for a while.
SoftBank-backed Coupang, which raised $4.6 billion in IPO proceeds, had an extremely auspicious start on the New York Stock Exchange on Thursday. Shares rocketed as much as 84% intraday before paring gains and closing up 42% on the day.
The ten-year-old company is led by billionaire Bom Kim, who dropped out of Harvard Business School after just six months to capture the massive e-commerce opportunity in South Korea.
Eric Kim first met Bom Kim in 2011, also just six months after Coupang launched. Then, as a managing director at the long/short hedge fund Maverick Capital, Eric led the early-stage investment in Coupang on behalf of Maverick and stayed on the board at Coupang on Maverick s behalf until 2017.
For now, though, the coast seems to be clear for stocks, according to Jordan Kahn, the chief investment officer at ACM Funds and comanager of the ACM Dynamic Opportunity Fund, which takes a long-short approach that s somewhat in the fashion of a hedge fund.
In addition to the gargantuan stimulus package that will be supportive of consumer spending, equity investors can rely on the fact that the global recovery is still in its early stages, interest rates remain low, and the Federal Reserve is committed to quantitative easing, Kahn told Insider on Wednesday.
He said he thought it would take several rate hikes from the Federal Reserve before stocks were hurt. As of now, it appears that the Fed will keep the federal funds rate near zero at least into 2022, if not longer.
An inflationary environment is a key theme investors can t ignore, says Morgan Stanley analysts.
In a research note, analysts highlight inflation indicators are pointing to further increases ahead.
We list 10 high pricing power stocks set to benefit in this environment, according to Morgan Stanley.
Morgan Stanley s global inflation surprise index recently turned positive for the first time in two years.
The 10-year treasury yield has risen this week to 1.615%, its highest in over a year, as investors demand higher returns for bonds, as the prospect of a strengthening economy has, in turn, fueled expectations that growth and inflation will pick up more sharply.
India VIX fell 7.79% from 22.49 to 20.74 levels. A cooldown in VIX below the 21-20 zone is needed for the bullish grip and a smoother move to continue in the market.