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Wednesday, February 8, 2023

ContextLogic Inc. (NASDAQ: WISH): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for ContextLogic Inc. (WISH) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.0121, or 1.90%, to $0.65. The ContextLogic Inc. has recorded 438,336 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Wish to Participate in 25th Annual Needham Virtual Growth Conference.

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Stocks Info

WISH belongs to the Consumer Cyclical sector of the NASDAQ while operating in the Internet Retail industry. At the end of the last regular session, the stock closed at $0.64 and fluctuated between $0.6401 as its day high and $0.5801 as its day low. The current market capitalization of ContextLogic Inc. is $423.57M. A total of 24.23 million shares were traded on the day, compared to an average of 19.89M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, WISH has seen 6 BUY and 16 SELL insider trades, representing the acquisition of 1,149,096 and the disposition of 10,724,249 shares. Over the last 12 months, there were 79 BUYs and 131 SELLs from insiders. Insiders purchased 66,968,464 shares during that period but sold 44,834,903.

In the most recent transaction, Jain Tarun Kumar sold 88,000 shares of WISH for 0.49 per share on Jan 03. After the transaction, the Chief Product Officer now owns 76,629 company shares. In a previous transaction on Dec 02, Jain Tarun Kumar sold 88,000 shares at 0.69 per share. WISH shares that Chief Product Officer owns now total 201,764.

Among the insiders who sold shares, Jain Tarun Kumar disposed of 88,000 shares on Nov 02 at a per-share price of $0.74. This resulted in the Chief Product Officer holding 94,729 shares of WISH after the transaction. In another insider transaction, Szulczewski Piotr sold 2,726,819 shares at $0.72 per share on Oct 28. Company shares held by the 10% Owner now total 26,730,644.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for WISH in the last 3 months, the mean price target is $1.70 with high estimates of $5.70 and low estimates of $0.50. In terms of 52-week highs and lows, WISH has a high of $2.93 and a low of $0.44.

As of this writing, WISH has an earnings estimate of -$0.2 per share for the current quarter. EPS was calculated based on a consensus of 4 estimates, with a high estimate of -$0.17 per share and a lower estimate of -$0.23. The company reported an EPS of -$0.09 in the last quarter, which was 35.70% higher than expectations of -$0.14.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 6 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for WISH is Overweight with a score of 1.75. A total of 1 analysts rated the stock as Buy while 0 rated it as Overweight while 2 rated it as Hold. Among the other participants, 1 thought the stock was Underweight and 2 thought it should be Sold.

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