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Billionaire Investor Stanley Druckenmiller Names His Top Stock Pick for Q3

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Coupang

Wall Street legend and billionaire investor Stanley Druckenmiller has named Coupang his top stock pick for the third quarter of this year.

Druckenmiller was impressed by the company’s impressive business growth, highlighted by its record-breaking quarterly revenue of $7.866.

According to Insider Monkey, Coupang secured second place in Druckenmiller’s ranking of the best stocks for Q3 on Thursday.

The e-commerce giant’s rapid expansion and market leadership in South Korea’s online retail sector highly influenced Druckenmiller’s decision. Topping the list was Natera, a U.S. biotechnology firm.

The top five were rounded out by Coherent, a semiconductor manufacturer, in third place; Woodward, an aerospace parts specialist, in fourth place; and Seagate Technology Holdings, a data storage company, in fifth place.

The remaining top 10 included Philip Morris International in sixth, Uruguay-based e-commerce platform MercadoLibre in seventh, mining giant Freeport McMoRan in eighth, sports betting company Flutter Entertainment in ninth, and energy infrastructure firm Kinder Morgan in tenth.

Coupang’s Q3 performance was stellar. Revenue soared to $7.866 billion, a 32% year-over-year increase, and operating profit climbed 24% to $109 million.

The company’s core Product Commerce segment, which includes Rocket Delivery, Rocket Fresh, and Rocket Growth, continued to thrive.

Another key advantage of the e-commerce leader is its strong customer base, which reached 22.5 million active users, up 11% from the previous year.

Market analysts are bullish on Coupang’s prospects. In addition to e-commerce, the company has diversified into streaming services and food delivery. It has also invested heavily in expanding its nationwide logistics network and driving innovation.

In a letter to investors, U.S. venture capital firm Appalachian Capital highlighted Coupang’s dominant position in the Korean e-commerce market, noting that nearly half of South Korea’s population are active Coupang customers.

Stanley Druckenmiller, who worked alongside George Soros at the Quantum Fund from 1988 to 2000, is renowned for his role in the 1992 bet against the British pound that “broke the Bank of England.”

He later founded Duquesne Capital in 2000, growing its assets to $12 billion before transitioning to manage his wealth through the Duquesne Family Office.

theguru
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