Why Coupang Stock Was Rallying 12% Higher Today

Shares of South Korean e-commerce company Coupang (NYSE: CPNG) were racing 12.2% higher today as of 11:55 a.m. ET. Stock analysts at Morgan Stanley and Credit Suisse were both waxing bullish on the company this week. The latest note came from Credit Suisse, which said in a research note that a slowdown in consumer spending is already priced into the stock at this point.