ContextLogic Inc.’s (WISH) Stock With a 6.65% Daily Gain on Wednesday

The WISH stock price fluctuated between $9.38 and $10.13 throughout the trading session with the volume trading being 32M shares, which represented a negative variation when compared to the three months average volume of 64M shares.

The share price of ContextLogic Inc. (NasdaqGS:WISH) ran up 6.65% to close Wednesday’s market session at $9.94, higher as compared to yesterday’s close which brings the market valuation of the company to $6.15B.

The 52-week high for the ContextLogic Inc.’s shares is $32.85. That puts it -69.74% from that peak but still a -53.52% gain since the share price dropped to a 52-week low of $7.52, while the S&P 500’s share price change was of 35.08%.

Advertisements

What does the trading volume tell us about the WISH stock?

During the last trading session, ContextLogic Inc. (NasdaqGS:WISH) has seen decay in its daily volume. The daily volume was of 64M, while in the last 10 days the average was 33.87M and last three months – 64.02M.

Shrinking short interest

The ContextLogic Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 20.98M shares being shorted which translates into 0.16 of a short ratio for WISH, while in the previous month the shorted shares were 24.12M.

ContextLogic Inc. (NasdaqGS:WISH) financials

With a market cap of 6.15B, ContextLogic Inc. holds a total cash of $1.77B that translates into $2.87 per share, while the total debt is of $48M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 75.50%. The current revenue is of $2.87B that is $11.26 per share.
This is a great sign for a bright future.

Advertisements