The stock rate of ContextLogic Inc (NASDAQ:WISH) raised by 9.39% today. There are no company-specific report or governing filings that seem driving up the rate so it looks like external elements go to play.
Particularly, the Wish Stock Price Today boosts appear to be driven by a wider rally in the supposed “meme stocks.” And information from Quiver Quantitative suggests that there has been a rise in discussions about meme stocks on various social media sites systems. Plus, there has actually been an uptick in out-of-the-money phone call buying for the meme stocks, causing a gamma capture as well as increasing the price.
Various other “meme stocks” that have actually seen a jump in price today consist of:
GameStop Corp. (NYSE: GME)– Up 30.86% today
Bed Bathroom & Beyond Inc. (NASDAQ: BBBY)– Up 2.26% today
AMC Enjoyment Holdings Inc (NYSE: AMC)– Up 15.02% today
Express, Inc. (NYSE: EXPR)– Up 9.73% today
Clover 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
Sundial Growers Inc (NASDAQ: SNDL)– Up 10.01% today
Why Is ContextLogic (WISH) Stock Down Today?
If it had not currently, it currently appears clear that the meme-stock mania capitalists saw over a year ago is completely over. For capitalists in ContextLogic (NASDAQ: WISH) and also WISH stock at the very least, the cost activity of late has informed that tale.
Wish, a ContextLogic business a worldwide on-line buying app.
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After striking a top of greater than $32 per share earlier last year, WISH stock has 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 absolute beatdown of this retail investor fave.
Investors had previously gotten on ContextLogic as a special ecommerce company with the capacity to potentially take on some huge behemoths in the space. Without a doubt, with an evaluation of just $1.1 billion now, WISH stock had actually looked like a decent wager. Taking into consideration exactly how quick various other shopping gamers have run, it makes good sense.
However, ContextLogic’s company design is a bit various from other companies. This company attaches users with merchants straight, offering a much more smooth acquisition process for inexpensive things. That said, as rising cost of living has raved on and inexpensive things have actually been repriced higher (alongside surging delivery prices), ContextLogic’s organization version isn’t as attractive as it once was.
On top of that, there occurs to be yet one more bearish company-specific stimulant dragging WISH stock down today. So, let’s dive into what financiers are viewing with WISH now.
Bearish Analyst Belief Driving WISH Stock Lower
Today, analyst Kunal Madhukar at UBS gave a lower cost target for dream stock. While UBS did keep its neutral rating, it decreased its rate target to $2 per share. Previously, the target had actually stood at $4.
On the whole, downgrades are never ever helpful for a provided stock. Capitalists of all red stripes tend to pay attention to expert scores for a reason. These skilled experts model out assumptions for a given business, offering their take on its leads over the next year. What’s more, while lots of do think about expert records to be delayed indicators of market view as well as cost activity, there is fundamental value in what experts need to say.
Especially, this is the second such downgrade from UBS over the past 3 months. There are some buy scores and excellent rate targets for ContextLogic. However, on the whole, analysts appear to be taking a bearish sight of WISH now. As necessary, until this view shifts, the market appears to siding with them.