San Francisco-based ContextLogic Inc. [NASDAQ:WISH], the parent company of mobile e-commerce platform Wish, has been suffering. Despite the popularity of e-commerce stocks, as many of these businesses have been bolstered by the pandemic, Wish has seen its share price fall more than 91% in the past year to $2.35.
That’s a significant discount to the $24 IPO price, when the company listed in December 2020. It benefited from the meme-stock frenzy in early 2021 but so far, the comparisons to e-commerce giant Amazon have not held up.
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