Coupang can't compete with local e-commerce offers in Taiwan such as momo and PChome. A post the author replies to cites Coupang's losses in Taiwan, Play and Eats as the main reason for not yet buying the stock. x.com 

Korean banks, brokers, insurers, retailers and materials suppliers should benefit as Samsung and SK hynix's massive profits flow through the economy. The two could earn $2 trillion pre-tax through the decade, paying taxes worth half the national public debt. Banks such as Industrial Bank of Korea, Woori, Hana and KB trade at 6-8x earnings and gain from richer households, better credit and capital-return reforms; Samsung Securities and NH Investment & Securities play the wealth effect. x.com 

Coupang has built a logistics network that is incredibly difficult to replicate, leaving a lot of room to turn that scale into better economics over time. x.com 

LuxExperience is a fundamentally challenged business: an online department store for designer brands has little value proposition when it relies on the ultra-wealthy, who can buy direct from brands at full price with more certainty and a better experience. A post the author replies to notes the top few percent of customers drive 40-50% of spend. It may be the best operator left, but the case rests on it being cheap if things turn, and a recession would hit it hard. x.com 

Coupang, Sea and MercadoLibre remain dead money: their charts are broken, they are still overvalued and they face too much competition. Even after recent gains in Sea, they could stay dead money from here; they might be value, but that won't be known for a couple of years, and value traps are a devastating source of capital impairment. x.com  x.com 

Coupang looks like a long-term buy on a typical reversal pattern coupled with a large insider purchase. Per @BourbonInsider, a director just bought 7M shares for about $136.6M at prices of $18.48 to $19. x.com 

Coupang is a phenomenal buy because a board member just bought $136 million of stock, probably the largest non-founder insider purchase ever seen, and there is only one reason to do that. It trades at about 20x next-12-month EBITDA, with EBITDA expected to grow about 30% a year for the next few years, though margins compress slightly this year on Taiwan expansion. Versus Sea, Coupang looks a little cheaper after being overly punished for its data breach. x.com  x.com  x.com 

With its regulatory fine overhang done, Coupang wants to get to $20. If it gets there, it should head to the mid-$20s, though this call could be wrong. Korea is doing well, and the semiconductor gold rush will hopefully help. x.com 

Coupang's risk-reward looks favorable after the stock had a chance to bottom out. The latest news should be a big relief and quite bullish after outsized volume, and Morgan Stanley and UBS upgraded it with $27 and $28 targets. Having already issued vouchers and warned on its numbers, Coupang has a framework for recovery, with an unlevered FCF yield near 2.94% needing only user growth and a revenue rebound to hold. A concern is Korean rivals such as Naver taking share. x.com  x.com  x.com  x.com  … Show more

Coupang insiders bought a massive $158 million of stock over the last three days, a whale worth tailing. x.com