The WISH stock price fluctuated between $5.03 and $5.25 throughout the trading session with the volume trading being 21M shares, which represented a negative variation when compared to the three months average volume of 37M shares.
The share price of ContextLogic Inc. (NasdaqGS:WISH) dipped -2.33% to close Friday’s market session at $5.04, lower as compared to yesterday’s close which brings the market valuation of the company to $3.17B.
The 52-week high for the ContextLogic Inc.’s shares is $32.85. That puts it -84.66% from that peak but still a fine gain since the share price dropped to a 52-week low of $4.61, while the S&P 500’s share price change was of 29%.
The company currently a price target of $9.83.
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 37M, while in the last 10 days the average was 19.2M and last three months – 37.46M.
The decreasing interest in the WISH stock from the investors is helping to drive the stock price down.
Shrinking short interest
The ContextLogic Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 24.12M shares being shorted which translates into 1.96 of a short ratio for WISH, while in the previous month the shorted shares were 27.23M.
ContextLogic Inc.’s (NasdaqGS:WISH) financials
With a market cap of $3.17B, 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.