Asian Tech Press (Mar. 11) -- South Korean e-commerce giant Coupang has lost more than 60% of its market cap in the year since its U.S. IPO.

Coupang closed Thursday at $18.94 per share, with a market capitalization of about $33.25 billion.

Its shares began trading at $63.50 a share on the New York Stock Exchange on March 11, 2021, when the company had a market cap of $102.2 billion.

Coupang's market cap has shrunk by nearly 67% compared to that of its first day of trading.