The stock price of ContextLogic Inc (NASDAQ:WISH) raised by 9.39% today. There are no company-specific report or regulatory filings that seem driving up the rate so it appears like external variables are at play.
Especially, the Wish Stock Price Today rises seem driven by a broader rally in the supposed “meme stocks.” And information from Quiver Quantitative recommends that there has been a surge in discussions regarding meme stocks on numerous social media sites platforms. And also, there has actually been an uptick in out-of-the-money call buying for the meme stocks, triggering a gamma squeeze and also increasing the rate.
Various other “meme stocks” that have seen a jump in rate today include:
GameStop Corp. (NYSE: GME)– Up 30.86% today
Bed Bath & Beyond Inc. (NASDAQ: BBBY)– Up 2.26% today
AMC Home Entertainment Holdings Inc (NYSE: AMC)– Up 15.02% today
Express, Inc. (NYSE: EXPR)– Up 9.73% today
Clover Health And Wellness Investments Corp (NASDAQ: CLOV)– Up 3.5% today
BlackBerry Ltd (NYSE: BB)– Up 4.91% today
Ocugen Inc (NASDAQ: OCGN)– Up 3.23% today
Koss Corporation (NASDAQ: KOSS)– Up 29.48% today
Timepiece Growers Inc (NASDAQ: SNDL)– Up 10.01% today
Why Is ContextLogic (WISH) Stock Down Today?
If it had not currently, it now appears clear that the meme-stock mania capitalists saw over a year back is totally over. For financiers in ContextLogic (NASDAQ: WISH) as well as WISH stock at the very least, the cost activity of late has actually informed that story.
Wish, a ContextLogic company a worldwide on-line shopping application.
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After hitting a height of more than $32 per share earlier in 2015, WISH stock has actually considering that decreased to $1.65 per share at the time of this writing. Today’s down move of around 6% is just the latest in an outright beatdown of this retail capitalist favorite.
Capitalists had actually previously jumped on ContextLogic as an one-of-a-kind ecommerce firm with the capacity to possibly take on some massive behemoths in the area. Undoubtedly, with a valuation of just $1.1 billion currently, WISH stock had looked like a suitable gamble. Taking into consideration just how rapid other e-commerce gamers have actually run, it makes sense.
Nonetheless, ContextLogic’s service version is a bit various from other providers. This business connects customers with vendors straight, offering a more smooth acquisition procedure for inexpensive products. That said, as inflation has actually surged on and also inexpensive products have actually been repriced greater (alongside surging shipping prices), ContextLogic’s organization design isn’t as eye-catching as it once was.
In addition to that, there occurs to be yet one more bearish company-specific stimulant dragging WISH stock down today. So, let’s dive into what investors are enjoying with WISH currently.
Bearish Expert Sentiment Driving WISH Stock Lower
Today, expert Kunal Madhukar at UBS supplied a reduced rate target for dream stock. While UBS did keep its neutral score, it decreased its cost target to $2 per share. Formerly, the target had stood at $4.
Generally, downgrades are never good for an offered stock. Financiers of all stripes often tend to take note of expert scores for a reason. These skilled experts model out assumptions for a provided company, providing their take on its prospects over the next year. What’s even more, while lots of do take into consideration analyst records to be delayed signs of market belief and also cost activity, there is intrinsic worth in what analysts have to claim.
Especially, this is the 2nd such downgrade from UBS over the past three months. There are some purchase ratings as well as remarkable price targets for ContextLogic. Nevertheless, overall, experts appear to be taking a bearish sight of WISH today. Appropriately, up until this view changes, the market appears to exterior siding with them.