WISH Beats Q3 Earnings

During the last session, 54M of ContextLogic Inc.’s (NasdaqGS:WISH) shares were traded. The stock closed at $5.1 per share indicating that it lost -$0.39 or -7.1% during that day which brings ContextLogic Inc.’s valuation to $3.2B.

The 52-week high for ContextLogic Inc.’s shares is $32.85. That puts it -84.47% 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 35%.

The company currently has a price target of $8.94.


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 39M, while in the last 10 days the average was 27.98M and last three months – 38.93M.
The decreasing interest in the WISH stock from the investors is helping to drive the stock price down.

Shrinking short interest

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 $3.2B, ContextLogic Inc. holds total cash of $1.77B that translates into $2.87 per share, while the total debt is $48M.

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

This is a great sign for a bright future.