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Is ContextLogic a WallStreetBets Stock Worth Investing In? -Breaking

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© Reuters. Are ContextLogic WallStreetBets stocks worth considering investing in?

The shares of subreddit WallStreetBets favorite ContextLogic (WISH) have been losing momentum due to the company’s dismal financial performance. The shares of ContextLogic (WISH) have dropped 70% year-over-year and trade at their 52 week low. Over the past five trading days, however, WISH’s stock price has risen 11%. But given WISH’s fundamental weakness, can the stock sustain the rally, or will it retreat? You can read the rest of this article to learn more. ContextLogic Inc. is a San Francisco mobile e-commerce firm that operates internationally, in Europe and North America. WISH was #3 on Wallstreetbets’ most talked about stocks at the time this article was written. This stock has shown weak momentum this year. WISH shares are down 70% and 44.4% respectively over the past three month to trade at $5.47. The stock trades at $4.61, its 52-week lowest.

Recent plans were shared by the company to enhance product quality through its ecommerce platforms. To attract new buyers and brand owners, the company plans to concentrate on discovery commerce. The future of ecommerce will depend on serendipitous discoveries of products. WISH’s Chief Product Officer Tarun Jain said that WISH acts as an inspiration hub and hopes to inspire interest, shape demand, and ultimately be pioneers in the next generation commerce. Nevertheless, the company’s bleak financials could be a concern.

WISH has not been able to capitalize on industry tailwinds despite the increasing global ecommerce share in total retail sales for the last several months. The company’s revenues have declined 39% year-over-year to $368 million in its last reported quarter. Its revenue is expected to fall by 56.8% this quarter and 15.5% next year, according to analysts. It is also expected that its earnings per share will remain at least negative until next year.

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