Coupang (CPNG) Hits Fresh High After Scoring Washington Capitals Deal

We recently published 10 Stocks With Eye-Popping Gains; 7 Soar to Fresh Highs. Coupang Inc.’s (NYSE:CPNG) is one of the top performers on Monday.

Coupang soared to a new all-time high on Monday, as investors cheered a newly bagged deal with the Washington Capitals—a partnership that could bolster its brand exposure during nationally televised games.

At intra-day trading, Coupang Inc. (NYSE:CPNG) touched its new record high of $31.78 before trimming gains to finish the day just up by 8.96 percent at $31.50 apiece.

Monday’s rally marked its third straight day of gains after clinching a multi-year agreement with the hockey team for a prominent placement of its logo on the upper right chest area of its jerseys to be worn in games at the Capital One Arena beginning with the 2025-2026 NHL pre-season.

The placement is ideal for maximizing Coupang Inc.’s (NYSE:CPNG) brand exposure, amplifying its brand-building initiatives to be recognized by a larger market.

Additionally, Coupang Inc. (NYSE:CPNG) said that the partnership will promote its and Monumental Sports & Entertainment’s (MSE) commitment to supporting American companies’ efforts to grow their businesses and brands on an international scale.

The listed firm said that it would collaborate with the MSE every year to highlight the importance of small businesses and building economic growth at home through global sales of American goods.

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Disclosure: None. This article is originally published at Insider Monkey.