WISH Sees an Increase in Its Daily Volume

During the last session 125M of ContextLogic Inc.’s (NasdaqGS:WISH) shares were traded. The stock closed at $6.09 per share indicating that it gained $0.76 or 14.47% during that day which brings the ContextLogic Inc.’s valuation to $3.82B.

The 52-week high for the ContextLogic Inc.’s shares is $32.85. That puts it -81.46% from that peak but still a good 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 31%.

The company currently has a price target of $9.94.

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 37M, while in the last 10 days the average was 22.99M and last three months – 37.13M.

The increasing interest in the WISH stock from the investors is helping to drive the stock price up.

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. (NasdaqGS:WISH)’s financials

With a market cap of $3.82B, 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.