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.
Want the full story? Access all of The Armchair Trader's content for just £5.99 per month.
Get weekly investment ideas and tips that will take your investing to the next level. Sign up here.
Free 28 day trial. Cancel anytime.
Log In or Sign Up to Armchair Trader+
Already a member? Log in here:
Not a member yet? Sign up for your free trial or check out the benefits of membership.
Further content of this article is not available as it is for members only. Please visit the registration page for Armchair Trader Plus+ for further details on the benefits of becoming a member.