Profile
Sector:
Consumer CyclicalIndustry:
Internet RetailCountry:
United StatesIPO:
16 December 2020Website:
http://www.wish.comNext earnings report:
N/ALast dividends:
N/ANext dividends:
N/APrice
regular market | Fri, 21 Jun 2024 13:30:00 GMTDividend
Analysts recommendations
Institutional Ownership
WISH Latest News
ContextLogic Inc is trading down in extended hours on Monday after reporting disappointing financial results for the fourth quarter. This is a developing story.
SAN FRANCISCO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH) (“ContextLogic” or the “Company”) today announced it will report its fourth quarter and full year 2023 financial results after the close of market on Monday, March 4, 2024. In light of the pending transaction that was announced on February 12, 2024, the Company will not host a conference call or live webcast to discuss these financial results.
Wish's new owner faces steep competition from Chinese discount retailers Temu and Shein, which have been on an ad-spending blitz to attract American shoppers.
ContextLogic has announced an agreement to sell a significant portion of its operating assets and liabilities, including its eCommerce platform Wish, to Qoo10, an eCommerce platform operating in Asia. The transaction is valued at approximately $173 million in cash, ContextLogic said in a Monday (Feb. 12) press release.
ContextLogic (NASDAQ: WISH ), the owner of the Wish.com e-commerce website, saw its stock surge more than 20% on Wednesday after management announced the board was exploring a range of strategic alternatives for the business. Though actual Q3 revenues of $60 million beat Wall Street expectations by 4.6%, these sales figures represented a steep 52% decrease from last year's Q3 revenue of $125 million.
ContextLogic Inc. (WISH) Q3 2023 Earnings Call Transcript
An activist investor put out a letter to the board of WISH urging them to cease operations and return the cash to shareholders. We find that the net cash per share is lower than what the activist says and we believe it is not worth taking the risk. Liquidation news or a short squeeze can make the stock jump in the short-term. However, be aware of the risk associated with this trade.
ContextLogic, Inc. (NASDAQ:WISH ) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Ralph Fong - Head of IR Joe Yan - CEO Vivian Liu - CFO & COO Conference Call Participants Kunal Madhukar - UBS Laura Champine - Loop Capital Markets Operator Good day and thank you for standing by. Welcome to WISH's Second Quarter 2023 Earnings Conference Call.
I have a bearish outlook on ContextLogic Inc. due to a potential cash shortage within a year, caution against investing. Declining active buyer and monthly active user numbers contradict ContextLogic's value proposition. Bleak near-term prospects for ContextLogic with little revenue growth indicated, despite some analyst predictions.
ContextLogic has been a veritable poster child for a terrible investment. Shares have lost 99% of value since its IPO in late 2019 and it now trades at a steep discount to cash.
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What type of business is ContextLogic?
ContextLogic Inc. is an American company that operates in the field of e-commerce. The company was founded in 2010 in the state of Delaware and is based in San Francisco, California. The company manages the Wish.com marketplace. The website offers affordable products, primarily produced by Chinese companies. ContextLogic is working on expanding its number of partners, offering services to companies in Europe, North America, and South America. The total number of sellers using the Wish marketplace is around 500 thousand, and the total number of users has exceeded 100 million. Access to the site is also provided through a mobile application, which accounts for 90% of purchases. The company's strategy is based on the fact that most families have low incomes and cannot afford expensive brand-name purchases. The Wish marketplace democratizes e-commerce, making it accessible to everyone.
What sector is ContextLogic in?
ContextLogic is in the Consumer Cyclical sector
What industry is ContextLogic in?
ContextLogic is in the Internet Retail industry
What country is ContextLogic from?
ContextLogic is headquartered in United States
When did ContextLogic go public?
ContextLogic initial public offering (IPO) was on 16 December 2020
What is ContextLogic website?
https://www.wish.com
Is ContextLogic in the S&P 500?
No, ContextLogic is not included in the S&P 500 index
Is ContextLogic in the NASDAQ 100?
No, ContextLogic is not included in the NASDAQ 100 index
Is ContextLogic in the Dow Jones?
No, ContextLogic is not included in the Dow Jones index
When does ContextLogic report earnings?
Next earnings report date is not announced yet