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Tag: WISH

  • 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.

  • Why ContextLogic Inc (WISH) stock performed well on Monday?

    Why ContextLogic Inc (WISH) stock performed well on Monday?

    ContextLogic Inc. (WISH) shares jumped 2.89% in after-hours on Monday, June 21, 2021, and close the business at $13.89 per share. earlier in the Morning session, WISH’s stock gained 18.42% to close Monday’s normal session at $13.50 per share. WISH shares have moved up by 19.79% in the past week. Over the past three months, the stock has lost 24.92%, while over the past six months, it has declined 39.38%.

    Wish Partnership with PrestaShop

    On June 14, 2021, WISH stock announced a two-year partnership with the leading e-commerce platform, PrestaShop.

    Through this partnership, more than 300,000 merchants and brands on the PrestaShop platform will be able to quickly and easily sell to millions of consumers on the Wish marketplace.

    Recent financial results announcement

    On May 12, 2021, WISH stock released its financial results for its first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • WISH stock reported revenue of $772 million for Q1 2021 compared to $440 million in Q1 2020.
    • The company suffered a net loss of $128 million for the reported quarter compared to a $66 million loss in Q1 2020.
    • Adjusted EBITDA was $79 million in Q1 2021 compared to $51 million in Q1 2020.
    • It used $354 million of net cash in operating activities during Q1 2021, compared to $129 million in Q1 2020.

    The financial outlook for Q2 2021

    For the 2nd quarter of 2021, the company is expecting

    • Revenue to be between $715 million to $730 million
    • Adjusted EBITDA between $60million to $55 million

    New appointments

    On May 12, 2021, the company separated the roles of chair and chief executive officer and appointed veteran technology and finance executive and current Wish board director Jacqueline Reses as Executive Chair.

    Wish Founder and CEO Piotr Szulczewski will continue to serve as Chief Executive Officer.

    Participation in the investor conference

    Wish recently participated at J.P. Morgan’s 49th Annual Global Technology, Media, and Communications Conference which held on Monday, May 24, 2021.

    Strategic Partnership with South Africa Post Office

    On April 21, 2021, WISH stock signed a strategic partnership with South Africa Post Office (SAPO) to strengthen its logistics capabilities and customer experience for South African consumers.

    Due to the partnership with South Africa Post Office (SAPO), the customer will get benefits such as

    • SMS and physical notifications on deliveries awaiting collection
    • Customers to receive bundled shipments for multiple items
    • Average 50%+ faster transit times
    • End to end tracking visibility and delivery confirmation

    Conclusion

    Though the company is facing some legal challenges it is still performing well and we have no recent news which we could link with its good performance on Monday. We hope that WISH stock will continue to perform well in the coming days as well.

  • Early Morning Vibes: 4 Top Trending Stocks To Watch Right Now

    Early Morning Vibes: 4 Top Trending Stocks To Watch Right Now

    On March 5, the American stock exchanges closed in the green zone. The S&P 500 rose 1.95% to 3842 points, the Dow Jones added 1.85%, the NASDAQ rose 1.55%. All sectors, led by the energy sector, showed a confident growth, which continues to rally supported by oil prices. After the OPEC + decision to leave the production level unchanged, the energy quotes are moving up. Treasury yields were held near weekly highs. The Fed has confirmed its long-term plans to maintain the current parameters of monetary policy.

    Company News

    Online real estate marketplace CoStar Group (CSGP: + 5.3%) abandoned the acquisition of CoreLogic (CLGX) due to the impact of rising rates on the prospects for the mortgage refinancing market.

    Apparel retailer Gap (GPS: + 7.6%) posted a decline in revenue, but EPS was above forecast. The prospects for the development of the Old Navy and Athleta brands are noted.

    Insurance company Guidewire Software (GWRE: -4.8%) did better than expected, but margins are worrisome.

    Today, global stock markets are showing mixed dynamics. On Saturday, the Senate passed a $ 1.9 trillion stimulus package. It includes a reduction in weekly unemployment benefits from $ 400 to $ 300, direct payments of $ 1,400 for about 85% of American families, $ 350 billion in state and local government assistance, as well as funding a vaccination campaign and expanding tax credits for children. On March 9, a vote on the package will be held in the House of Representatives, after which the law will be submitted to the President for signature. Market participants are confident that the law will be adopted in the first half of March.

    The labor market statistics released on Friday pleasantly surprised investors. The unemployment rate fell to 6.2%, and the leisure and hospitality industry became a driver of new job growth. Against the background of a decrease in the incidence of COVID-19 and active vaccination, some states have eased quarantine restrictions: the mandatory wearing of masks and the observance of social distance in public places have been canceled. This revitalized tourism and recreation, but heightened the risk of the spread of the coronavirus. To date, about 17% of the US population has received the vaccine, and this is not enough to stop the epidemic.

    Uncertain appetite for risk. The 10-year Treasury rate hovers around the 1.55% mark. Brent oil futures rise to $ 70. Gold dropped to $ 1698.

    Technically, the S&P 500 marked a short-term downtrend, maintaining medium-term positive momentum. The broad market index found support near 3700, below the long-term uptrend. In the medium term, mixed dynamics is expected with the nearest support zone of 3640-3700 points.

    Today Top Movers


    Net Element Inc. (NASDAQ: NETE) shares are trading up 22.27% at $10.87 at the time of writing. Mullen Technologies, Inc. which previously announced a definitive agreement to merge with Net Element in a stock-for-stock reverse merger in which Mullen’s stock holders will receive a majority of the outstanding stock in the post-merger company, revealed today a strategic partnership with NexTech Batteries Inc. as an EV battery supplier and key partner for battery development and technologies.

    Anchiano Therapeutics Ltd. (ANCN) stock soared 109.58% to $7.0 in the pre-market trading. 

    Adaptive Biotechnologies Corporation (ADPT), a Biotechnology company, rose about 11.3% at $47.0 in pre-market trading Monday. The company recently declared that the U.S. Food and Drug Administration (FDA) issued an Emergency Use Authorization (EUA) for T-Detect™ COVID to confirm recent or prior COVID-19 infection. 

    XpresSpa Group Inc. (XSPA) grew over 26.54% at $2.05 in pre-market trading today. On March 4, 2002, the XpresSpa Group,Inc. (Nasdaq: XSPA) announced it has signed a contract with the Port of Seattle for a COVID-19 popup testing facility at at Seattle-Tacoma International Airport (SEA).

    Top Upgrades & Downgrades


    KeyBanc turned bullish on The Trade Desk Inc. (TTD), upgrading the stock to “Overweight” and assigning an $851.0 price target, representing a potential upside of 30.09% from Friday’s close. 

    IQVIA Holdings Inc. (IQV) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $218.0, suggesting a 15.61% additional upside for the stock. 

    The Coca-Cola Company (KO) received an upgrade from analysts at RBC Capital, who also set their one-year price target on the stock to $60.0. They changed their rating on KO to Outperform from Sector Perform in a recently issued research note. 

    Earlier Monday KeyBanc reduced its rating on PRA Health Sciences Inc. (PRAH) stock to Sector Weight from Overweight. 

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Entergy Corporation (ETR) has been changed to Sector Weight from Overweight. 

    Analysts at Goldman Sachs downgraded Viatris Inc. (VTRS)’s stock to Neutral from Buy Monday.

    Latest Insider Activity


    Freeport-McMoRan Inc. (FCX) Director FORD GERALD J announced the sale of shares taking place on Mar 04 at $33.24 for some 300,000 shares. The total came to more than $9.97 million. 

    Zynga Inc. (ZNGA) Director DUGAN REGINA E sold on Mar 04 a total of 214,588 shares at $10.53 on average. The insider’s sale generated proceeds of almost $94244.0. 

    Cleveland-Cliffs Inc. (CLF) EVP, Chief Financial Officer Koci Keith declared the purchase of shares taking place on Mar 05 at $13.45 for some 15,000 shares. The transaction amount was around $0.2 million. 

    Enterprise Products Partners L.P. (EPD) Director WILLIAMS RANDA DUNCAN bought on Mar 04 a total of 4,915,183 shares at $22.90 on average. The purchase cost the insider an estimated $6.96 million.

    Important Earnings

    Top US earnings releases scheduled for today include Waitr Holdings Inc. (NASDAQ:WTRH). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.04 per share from revenues of $51.36M in the three-month period. 

    Analysts expect ContextLogic Inc. (NASDAQ:WISH) to report a net income (adjusted) of -$3.03 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $736.11M. 

    CarParts.com Inc. (PRTS), due to announce earnings after the market closes today, is expected to report earnings of -$0.1 per share from revenues of $91.97M recently concluded three-month period.

  • Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    In the recent times, Aviation stocks have suffered a serious crash. Covid-19 shut down the entire business. But US aviation stocks, such as United Airlines and Delta Airlines, are on the rise again. European aviation stocks are also doing well. Air France-KLM ended 2020 with a loss of €7.1 billion, but the share is rising again. And one of the best airline stocks is Ryanair. The Irish airline’s share is already above pre-corona levels. The optimism of investors must be sought in the rollout of the vaccinations and also the introduction of a kind of vaccine passport, which apparently more and more politicians are in favor.If vaccinations gain speed and everyone who wants to go on holiday by plane must be able to present proof of vaccination, more people will be triggered to actually get vaccinated.

    For Bank of America, an oil price of $100 is realistic within this and a few years. The drivers would be better fundamentals and monetary policy. Futures prices in the future are priced considerably more dearly and open interest has also risen sharply for options with a strike $100. Open interest has increased from 500 to 3,950 option contracts in one week.The rising open interest indicates an increasing number of open option contracts, a significant increase and interest from market participants. In the meantime, there are voices that OPEC + must increase production to meet (future) demand.

    It looks like Warren Buffett has been busy last year. On the one hand, Berkshire Hathaway has more than double the volume (purchases and sales) compared to 2019. This will likely have been mainly due to sector rotation, as Warren Buffett is known for its long-term investing. Unless he has suddenly become a day trader. But let’s not assume this. Berkshire Hathaway further repurchased $24.7 billion of its own shares.In the newsletter sent out by Berkshire Hathaway this weekend, it is also noticeable that the amount of cash has increased quarter after quarter in recent years. In Q4 2020, Berkshire Hathaway was on a cash mountain of $138.3 billion. In 2020, the share of financial institutions in the holding decreased their portfolio from 41% to 24%. Warren Buffett and his partner Charly Munger appear to be seeing something in the energy and telecommunications sector. A large interest was taken in Chevron and Verizon Communications.

    Today Top Movers

    NIO Limited (NIO) stock soared 5.9% to $48.48 in the pre-market trading.

    SOS Limited (NYSE: SOS) shares are trading up 28.3% at $6.12 at the time of writing.

    electroCore Inc. (ECOR) grew over 58.06% at $3.43 in pre-market trading today after declaring an exclusive distribution agreement with Medistar following regulatory approval in Australia.

    Socket Mobile Inc. (SCKT), a Computer Hardware company, rose about 42.72% at $15.0 in pre-market trading Monday. The firm today reported it has licensed SpringCard SAS core contactless technology.

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Plug Power Inc. (PLUG), upgrading the stock to “Overweight” and assigning a $65.0 price target, representing a potential upside of 34.35% from Friday’s close. 

    CME Group Inc. (CME) has won the favor of Keefe Bruyette’s equity research team. The firm upgraded the shares from Underperform to Market Perform and moved their price target to $197. 

    Spirit AeroSystems Holdings Inc. (SPR) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $50. They changed their rating on SPR to Overweight from Equal Weight in a recently issued research note. 

    Earlier Monday JP Morgan reduced its rating on Agios Pharmaceuticals Inc. (AGIO) stock to Neutral from Overweight and assigned the price target to $54. 

    Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for TechnipFMC plc (FTI) has been changed to Equal-Weight from Overweight and the new price target is set at $8.8. 

    Analysts at RBC Capital downgraded Pactiv Evergreen Inc. (PTVE)’s stock to Sector Perform from Outperform Monday.

    Latest Insider Activity

    ContextLogic Inc. (WISH) Chief Accounting Officer Just Brett announced the sale of shares taking place on Feb 24 at $19.65 for some 36,901 shares. The total came to more than $0.73 million. 

    Walmart Inc. (WMT) Director WALTON S ROBSON sold on Feb 26 a total of 356,175,368 shares at $130.64 on average. The insider’s sale generated proceeds of almost $92.81 million. 

    Macy’s Inc. (M) Director VARGA PAUL C declared the purchase of shares taking place on Feb 26 at $15.25 for some 13,115 shares. The transaction amount was around $0.2 million. 

    Coeur Mining Inc. (CDE) Chairman (non-executive) MELLOR ROBERT E bought on Feb 24 a total 185,233 shares at $10.53 on average. The purchase cost the insider an estimated $10,530.

    Important Earnings

    Top US earnings releases scheduled for today include Workhorse Group Inc. (NASDAQ: WKHS). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $1.32M in the three-month period. 

    Analysts expect Perrigo Company plc (PRGO) to report a net income (adjusted) of $1.00 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.32B. 

    Inovio Pharmaceuticals, Inc. (INO), due to announce earnings after the market closes today, is expected to report earnings of -$0.22 per share from revenues of $1.11M recently concluded in a three-month period.