Coupang 的价格如此之低，韩国电商大戏让人难以抗拒

But now that share prices have come down below $20, its stock is worth considering. Growth is growth, and that will ultimately lead to a point where Coupang breaks even. 

So for investors willing to take a leap of faith, Coupang represents a long-term buy-the-dip opportunity. Let's begin with the negatives, because investors can't pretend there aren't issues with the company, then take a closer look at the positives. 

Zelenskiy Adviser on Peace Talks With Russia

The Negatives In CPNG Stock

The most persistent argument against Coupang is that it continues to be plagued by losses. And based on recent results, those losses aren't getting better.

No matter how you slice it, 2021 wasn't kind to the company in terms of losses. Net losses more than tripled overall throughout the year. The company posted a $463.2 million net loss in 2020, which increased to $1.5 billion in 2021. 

In the fourth quarter, it was arguably worse. Those net losses multiplied by a factor of 4.89, rising from $82.8 million to nearly $405 million in net losses in Q4 2021. 

That narrative has persisted for the company ever since it undertook its initial public offering (IPO) in early 2021. Its net losses are big, and they aren't improving. 

At some point, investors will sour on growth for the sake of growth alone. There has to be a foreseeable breakeven point for capital to remain in a stock. 

According to one source, that point could come relatively soon for CPNG stock. As reported by Yahoo! Finance, “Consensus from 12 of the American Online Retail analysts is that Coupang is on the verge of breakeven. They expect the company to post a final loss in 2023, before turning a profit of US$378m in 2024.” 

If that eases your mind and makes CPNG stock a stronger consideration, it is far from the only positive for the company.

Growth Investing And Optimism In CPNG Stock

Investing in growth stocks requires optimism. The idea is that a rapidly increasing top line can overcome operational issues that lead to losses. At some point, the growth becomes so powerful that it simply trumps the losses and things begin to turn around.

One of the most salient positives for Coupang is that it is increasing both its customer base and revenues per customer. The company counted 17.9 million customers by the end of 2021, up from 14.9 million by the end of 2020. 

If the company had derived the same revenue per user, it would have seen revenue reach $4.6 billion in Q4 2021. That would have represented a 21% increase. 

But Coupang increased revenues per consumer by 11% in the same period. That resulted in a 34% increase in revenue. That's a strong part of the narrative that suggests the breakeven point isn't far in the future. If Coupang can increase its customer base while simultaneously increasing revenues per user consistently, that event will arrive much faster.

Expansion In Korea

Coupang is working hard to improve its already strong hold on the Korean market. The country's population is more than 51 million. Coupang currently has more than 17 million customers, most of them in Korea. 

The company added more than 15 million square feet of infrastructure in 2021. That was more than in the preceding two years combined. It's fairly clear Coupang knows where its bread and butter is. 

Korea is an attractive e-commerce growth market and the company knows this well. Coupang might look worse than before based on mounting losses. But the optimistic view that the company will figure it out can't be discounted. 

Given the extremely low price right now, there's tremendous upside in the future for CPNG stock. The company isn't going anywhere anytime soon, and it will grow out of its current troubles. Korea is a strong e-commerce market and Coupang is a strong play on that growth.

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

但现在股价已跌至 20 美元以下，其股票值得考虑。增长就是增长，这最终将导致 Coupang 达到收支平衡。 

因此，对于愿意信心飞跃的投资者来说，Coupang 代表了一个长期的逢低买入机会。让我们从负面开始，因为投资者不能假装公司没有问题，然后仔细看看正面。 

CPNG 股票的负面影响

反对 Coupang 最持久的论点是它继续受到亏损的困扰。根据最近的结果，这些损失并没有好转。

不管你怎么分，2021 年在亏损方面对公司不利。全年的净亏损增加了两倍多。该公司公布2020 年净亏损 4.632 亿美元，到 2021 年增至 15 亿美元。 

在第四季度，可以说情况更糟。这些净亏损乘以 4.89 倍，从 8280 万美元增加到 2021 年第四季度的近 4.05 亿美元。 

自公司于 2021 年初进行首次公开​​募股 (IPO) 以来，这种说法一直存在。其净亏损很大，而且没有改善。 

在某些时候，投资者只会为了增长而对增长感到不满。资本必须有一个可预见的盈亏平衡点才能留在股票中。 

据一位消息人士称，对于 CPNG 股票来说，这一点可能会很快到来。据雅虎报道！《金融》，“12 位美国在线零售分析师的共识是，Coupang 正处于盈亏平衡的边缘。他们预计该公司将在 2023 年实现最终亏损，然后在 2024 年实现 3.78 亿美元的利润。” 

如果这让您放心并使 CPNG 股票成为更强有力的考虑因素，那么这远非该公司唯一的积极因素。

CPNG股票的增长投资和乐观情绪

投资成长股需要乐观。这个想法是，快速增长的收入可以克服导致损失的运营问题。在某些时候，增长变得如此强大，以至于它完全胜过损失，事情开始好转。

Coupang 最显着的积极因素之一是它正在增加其客户群和每位客户的收入。截至 2021 年底，该公司拥有 1790 万客户，高于 2020 年底的 1490 万。 

如果该公司的每位用户收入相同，那么 2021 年第四季度的收入将达到 46 亿美元。这将意味着增长 21%。 

但 Coupang 在同一时期将每位消费者的收入增加了 11%。这导致收入增长了 34%。这是叙述的一个重要部分，表明盈亏平衡点在不久的将来。如果 Coupang 能够增加其客户群，同时持续增加每位用户的收入，那么该事件将更快地到来。

在韩国扩张

Coupang 正在努力提高其对韩国市场的强大控制力。该国人口超过5100万。Coupang 目前拥有超过 1700 万客户，其中大部分在韩国。 

该公司在 2021 年增加了超过 1500 万平方英尺的基础设施。这比前两年的总和还要多。很明显，Coupang 知道它的面包和黄油在哪里。 

韩国是一个有吸引力的电子商务增长市场，该公司深知这一点。基于不断增加的损失，Coupang 看起来可能比以前更糟。但该公司将解决这个问题的乐观看法不容小觑。 

鉴于目前极低的价格，CPNG 股票未来有巨大的上涨空间。该公司不会很快去任何地方，它将摆脱目前的困境。韩国是一个强大的电子商务市场，Coupang 在这一增长中发挥了重要作用。

在发布之日，Alex Sirois 没有（直接或间接）在本文提到的证券中持有任何头寸。本文中表达的观点是作者的观点，受 InvestorPlace.com发布指南的约束。