The WISH stock price fluctuated between $9.34 and $10 throughout the trading session with the volume trading being 45M shares, which represented a negative variation when compared to the three months average volume of 67M shares.
The share price of ContextLogic Inc. (NasdaqGS:WISH) dipped -4.27% to close Thursday’s market session at $9.41, lower as compared to yesterday’s close which brings the market valuation of the company to $5.82B.
The 52-week high for the ContextLogic Inc.’s shares is $32.85. That puts it -71.35% from that peak but still a fine 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 31.69%.
What does the trading volume tell us about the WISH stock?
During the last trading session, ContextLogic Inc. (NasdaqGS:WISH) has seen growth in its daily volume. The daily volume was of 67M, while in the last 10 days the average was 25M and last three months – 66.96M.
The increasing interest in the WISH stock from the investors is helping to drive the stock price up.
Growing short interest
The ContextLogic Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 29.12M shares being shorted which translates into 0.6 of a short ratio for WISH, while in the previous month the shorted shares were 20.98M.
ContextLogic Inc.’s (NasdaqGS:WISH) financials
With a market cap of 5.82B, 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.