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Tag: ContextLogic Inc

  • ContextLogic Inc. (WISH) Stock Tumbling in Aftermarket Following Financial Results Announcement.

    ContextLogic Inc. (WISH) brings an entertainment-filled and affordable shopping experience to customers globally. It is the one of largest international e-commerce portfolios, connecting loads of value-conscious customers to approximately half-million merchants. globally. The company merges the technology and data science capacities and a novel discovery-based mobile shopping experience.

    The price of WISH stock during the regular trading on March 1, 2022, was $2.27 with a drop of 4.22%. at last check in the aftermarket, the stock dipped further by 6.17%.

    WISH: Key Financials

    On March 01, 2022, WISH released its unaudited financial outcomes for Q4 2021 ended December 31, 2021. Some of the vital points are discussed below.

    Revenue

    Revenues in the fourth quarter of 2021 were $289 million compared to $794 million for the same quarter in 2020. The company observed a decrease of 64% in its revenue year-over-year. Also, the company missed the analyst’s revenue expectations of $309.8 million.

    EPS

    Basic and diluted net loss in Q4 2021 was $58 million or $0.09 per share compared to $569 million or $3.04 per share for the same period of 2020. The company observed a noteworthy increase in its EPS over the year. Also, it topped the EPS estimates of -$0.10.

    WISH: Events and Happenings

    On February 15, 2022, WISH introduced the Wish Clips, which is a shoppable video feature designed to enhance the consumer’s experience and streamline the purchase path. On February 2, 2022, WISH introduced an ‘invite-only’ merchant choice procedure. The new merchants who want to sign up to sell their products on the company’s marketplace will participate in a multi-step qualification procedure.

    On February 1, 2022, WISH reported the award of the grant of inducement to its CEO, Vijay Talwar, as required by Nasdaq Listing Rule. The award was granted under the company’s New Employee Equity Incentive Plan. On December 16, 2021, WISH updated on the partnership with Nasdaq for fixing a co-branded vending machine shopping experience at 4 Times Square.

    Conclusion

    WISH stock downplayed by 87% in the last year as the pandemic hit the economy hard. The current stock position of the company is not much good as it declined in Tuesday’s aftermarket following the financial statement release. The company topped the EPS estimates but missed the revenue goal.

  • New CEO Appointment, ContextLogic Inc. (WISH) stock Continues on a Bullish Path After Hours

    New CEO Appointment, ContextLogic Inc. (WISH) stock Continues on a Bullish Path After Hours

    On January 31, ContextLogic Inc. (WISH) declared the appointment of Vijay Talwar as the company’s CEO and member of its Board, effective February 01, 2022. Consequently, the stock gained a goof value in the following sessions.

    During the regular trading session, the stock made a big jump of 14.72% at its close of $2.65. WISH added a further 5.66% in the after-hours session on Monday, at $2.80.

    Founded in 2010, ContextLogic Inc. which operates an online marketplace has a market capitalization of $1.49 billion. Currently, the company has 577 million shares outstanding in the market.

    New CEO Vijay Talwar

    Mr. Talwar has succeeded Piotr Szulczewski as WISH’s CEO, who will continue being the company’s board member.

    Mr. Talwar has vast experience in retail and eCommerce and has served at various big names in various executive roles. Recently, he served as the CEO of Foot Locker’s EMEA (Europe, Middle East & Africa) business. Before that, he also served at Blue Nile Inc., Nike, Inc., the Bill, Hillary & Chelsea Clinton Foundation, Bain & Company, and others.

    WISH’s Collaboration with Nasdaq

    On December 16, the company announced the installation of a co-branded vending machine in collaboration with Nasdaq. The vending machine laced with “22 Popular Products for 2022” was placed at 4 Times Square.

    Moreover, the parties donated all of the sales from the vending machine to The Robin Hood Relief Fund. The Robin Hood Relief Fund is New York’s largest organization working against poverty. In addition, WISH and Nasdaq also drove a #WISH22 on Instagram and Twitter with shoppers posting a picture of their purchase. The companies donated 5X of each purchase price to the relief fund, up to a total donation of $28,000. Added to this a 22% discount with promo code WISH22 was also offered from December 16-18, 2021.

    WISH’s Financial Overview

    On November 10, the company disclosed its third-quarter financial results for 2021.

    In the third quarter of 2021, WISH generated revenues of $368 million, against $606 million in the year-ago quarter. This shows a decline of 39% year over year.

    Furthermore, the company incurred a net loss of $64 million in the third quarter of 2021. Comparatively, the net loss was $99 million in the year-ago quarter.

    Conclusion

    In conclusion, WISH stock has been on a bullish path since the company declared the new CEO appointment. Not only did the stock make a good gain during the regular session, but it also continued gaining in the after hours. The stock lost 91.50% last year and 14.79% year to date. But currently, the stock seems to be going in the right direction as it has added 11.34% in the past five days.

  • How Come ContextLogic (WISH) Stock Is Rallying Today?

    As of last check, the price of ContextLogic Inc. (Nasdaq:WISH) shares was up 15.90% to $11.59 after closing at $10.00 on Friday. ContextLogic stock was fluctuating between $9.94 and $11.79. A total of 128.86 million shares were exchanged, higher than WISH stock’s year-to-date average daily volume of 15.14 million.

    WISH has gained 20.63% in the last week, but has lost -46.35% over the past quarter. Today, the announcement that ContextLogic has partnered with a leading e-commerce platform boosted the WISH stock.

    Who is ContextLogic partnered with?

    As the fastest-growing global ecommerce platform headquartered in San Francisco and founded in 2010, ContextLogic connects millions of value-conscious shoppers from over 100 countries to over half a million merchants around the world. As part of its mission to create an engaging and personalized shopping experience for its users, WISH combines technology and data science capabilities with an innovative mobile discovery platform.

    A partnership between ContextLogic and popular e-commerce platform PrestaShop was announced today.

    • WISH will enable more than 300,000 merchants and brands on the PrestaShop platform to sell to millions of customers quickly and easily.
    • With this new direct integration module, PrestaShop merchants can connect directly to WISH’s merchant dashboard as part of the PrestaShop platform.
    • Products and orders will be synchronized between PrestaShop and WISH through the module.
    • Additionally, PrestaShop merchants will have access to marketing and sales support as well as a number of special incentives.

    Will the partnership benefit WISH?

    “Trusted Partner” status will be granted to ContextLogic (WISH) on PrestaShop, as well as access to special landing pages for merchants. As a result of this partnership, WISH will provide Prestashop merchants with a global platform to conduct business and will be able to provide its own customers with even more quality merchants and brands.