ContextLogic (WISH) Stock Rallies Up on Growing Short Interest

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During the last session 69M of ContextLogic Inc.’s (NasdaqGS:WISH) shares were traded. The stock closed at $7.12 per share indicating that it gained $0.43 or 6.43% during that day which brings the ContextLogic Inc.’s valuation to $4.47B.

The 52-week high for the ContextLogic Inc.’s shares is $32.85. That puts it -78.33% from that peak but still a -66.63% gain since the share price dropped to a 52-week low of $6.14, while the S&P 500’s share price change was of 28.77%.

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 75M, while in the last 10 days the average was 48.66M and last three months – 74.93M.

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.

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ContextLogic Inc. (NasdaqGS:WISH)’s financials

With a market cap of 4.47B, ContextLogic Inc. holds a total cash of $1.57B that translates into $2.51 per share, while the total debt is of $45M.

The company has seen a decrease in the revenue with a year-over-year quarterly revenue growth percentage of -6.40%. The current revenue is of $2.83B that is $7.36 per share.