New York, Feb 5, 2026, 14:04 EST — Regular session
- Coupang shares slid roughly 9.7% in afternoon trading, hovering close to their lowest point of the day
- Company says another 165,000 users were affected by the November leak but insists no payment or login details were compromised
- The U.S. House panel has issued a subpoena to Coupang, while Bernstein initiates coverage with an Underperform rating.
Shares of Coupang Inc tumbled almost 10% Thursday, weighed down by a fresh cybersecurity alert from South Korea alongside a U.S. congressional subpoena deepening the company’s legal troubles. The stock fell 9.7% to $17.57 by 2:04 p.m. EST, sliding to as low as $17.53.
Timing is critical. Coupang’s Korean operations have been under a microscope ever since last year’s breach sparked political backlash in Seoul, complicating matters for U.S. investors eager for details on potential costs, penalties, and the company’s next steps.
Coupang revealed Thursday that data for another 165,000 users was exposed in the same breach reported last November. The leaked information includes names, phone numbers, and addresses, but payment details and login credentials were not affected. The company said users have been alerted following government protocols. This latest breach comes after a massive leak last year that hit over 33 million customers. A South Korean presidential adviser warned the incident is straining relations with Washington.
In Washington, the House Judiciary Committee subpoenaed Coupang amid its investigation into alleged discrimination against U.S. companies. The committee demands communications between Coupang and the South Korean government and has requested the company’s testimony. Coupang responded with a statement saying it will “fully cooperate,” including providing documents and witness testimony. Reuters
Bernstein jumped in with an Underperform rating on Coupang, setting a $17 price target, The Fly reported. On Wall Street, Underperform means the stock is forecasted to trail its peers over the long haul.
The selloff underscores how fast cybersecurity news can hit valuations. For a consumer platform, the threat extends beyond just remediation costs—it includes prolonged churn, increased scrutiny, and sluggish decision-making as investigations drag on.
Law firms ramped up public notices linked to the data breach fallout. Levi & Korsinsky issued a release highlighting a Feb. 17 deadline to file as lead plaintiff in a securities lawsuit, accusing the company of poor cybersecurity controls and delayed disclosure. (A lead plaintiff is the investor the court appoints to represent the entire class.)
Coupang confirmed the latest leak didn’t involve payment details or login credentials. That cuts down the immediate risk of fraud, though it doesn’t clear up the wider questions about ongoing investigations and possible fines.
If investigators determine the leak is contained and regulators hold back on penalties, the shares might find some relief. But if the situation worsens, expect more disclosures, stricter enforcement in South Korea, and growing litigation in the U.S., keeping the stock stuck under a shadow of negative headlines.
Traders have their eyes on South Korea as police prepare to summon Coupang Korea’s acting head, Harold Rogers, on Feb. 6 for questioning over alleged perjury tied to a National Assembly hearing, according to local media. Meanwhile, any move from the U.S. House panel on scheduling testimony or document requests could come swiftly.
