Wish Reports Second Quarter 2021 Financial Results

ContextLogic (WISH) Crashes 27% on Weak Q2 Results as Demand Slows, At Least 5 Analysts Downgrade Including a Double Downgrade by JPM

Shares of ContextLogic (NASDAQ: WISH) have plunged more than 27% in pre-open Friday after the company reported Q2 sales of $656 million, lower than the $723 million consensus.

The company also delivered a loss of $0.18 per share, again lower than the consensus calling for a loss of $0.13 per share.

Wish has begun executing on initiatives designed to enhance the user experience and increase engagement on the Wish app following second-quarter results that did not meet our expectations, said Wish Founder and CEO Piotr... More

ContextLogic Inc (WISH) PT Lowered to $8 at Stifel

Stifel analyst Scott W. Devitt lowered the price target on ContextLogic Inc (NASDAQ: WISH) to $8.00 (from $12.00) while maintaining a Hold rating.

The analyst commented, "Wish reported disappointing 2Q results with revenue falling -7% y/y to $656mm, significantly below our $724mm estimate and the... More

JPMorgan Double Downgrades ContextLogic Inc (WISH) to Underweight

JPMorgan analyst Doug Anmuth downgraded ContextLogic Inc (NASDAQ: WISH) from Overweight to Underweight with a price target of $5.00 (from $17.00).

The analyst comments "ContextLogic operates Wish, one of the largest global ecommerce platforms, connecting 90M+ MAUs in 100+ countries to 550k+ merchants. WISH targets an underserved... More

ContextLogic (WISH) Misses Q2 Revenues

ContextLogic (NASDAQ: WISH) reported Q2 revenue of $656 million versus the consensus estimate of $722.92 million.

Wish has begun executing on initiatives designed to enhance the user experience and increase engagement on the Wish app following second-quarter results that did not meet our expectations, said Wish... More