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CPNG completed its overseas IPO listing on the NYSE on March 11. The stock opened at $63.50 during its first trading session, 81.4% higher than the pre-listing price of $35. However, the stock has declined 39.8% since then, driven by weakening investor sentiment regarding its international expansion prospects and weak profit margins. Following the release of the mixed fiscal second-quarter earnings report (for three months ended June 30) on August 11, shares of CPNG declined 17.9% to close Friday’s trading session at $29.65. It has slumped 23.6% over the past month.
Here’s what could shape CPNG’s performance in the near term:
