Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Thoughts on Short-Selling Coupang Aimed at September 6th Massive Lockup Release

Korea FTC Says It Will Regulate Coupang on Search Algorithm Manipulation

Coupang IPO: Not Worth Subscribing at Rumoured 50.0bn Valuation

Coupang Popped 41% On Trading Debut, But Could Un-Pop As Lock-Up For 34.0m Shares Ends in Six Days

Coupang Ups Offer Price Range by 13-19%, As Investors Seem to Ignore The Company's 1P Exposure

Coupang IPO: Significantly Overvalued As a LT Investment & Too Risky To Bet On The Short Term Upside

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/coupang" target="_blank" data-smartkarma-citation="entities:28425:1" rel="noopener">Coupang (CPNG US)</a>, the largest e-commerce company in South Korea with US$ 12.0bn in annual revenue, has come under a lot of scrutiny ever since its extremely successful IPO.The latest in a series of negative publicity for Coupang is the news that South Korea’s antitrust watchdog has launched an investigation over an accusation that the company has meddled with algorithms to prioritize its own products.Although the shares were down over 40% from the first-day peak, Softbank Group-backed company is trading at $40.46 per share, 15% above the IPO price.Mega cap Chinese e-commerce companies like <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a> have underperformed the S&amp;P index by almost 50% during the last one-year period due to concerns over strict oversight by the government. Given how things have fared so far, it seems like Coupang is heading in a direction that invites strict oversight from the government.

Coupang (CPNG US), the largest e-commerce company in South Korea with US$ 12.0bn in annual revenue, has come under a lot of scrutiny ever since its extremely successful IPO.The latest in a series of negative publicity for Coupang is the news that South Korea’s antitrust watchdog has launched an investigation over an accusation that the company has meddled with algorithms to prioritize its own products.Although the shares were down over 40% from the first-day peak, Softbank Group-backed company is trading at $40.46 per share, 15% above the IPO price.Mega cap Chinese e-commerce companies like Alibaba Group (BABA US) have underperformed the S&amp;P index by almost 50% during the last one-year period due to concerns over strict oversight by the government. Given how things have fared so far, it seems like Coupang is heading in a direction that invites strict oversight from the government.

Coupang: Inviting Strict Oversight from Government Regulators