This is Why Wish Stock Continues to go down?
Wish stock has been going down since early 2021 and continues to trend lower with numerous unenthusiastic catalysts. Starting from Wish App users decrease, previous CFO stepping down, Q2 and Q3 earnings, and CEO stepping down continue to slam the WISH stock lower.
There are other negative catalysts such as the continuation of Short selling, dark pool activity, the overall market selling off, and most important, The Insiders selling off their stocks. Insiders selling their shares when the stock price is lower is such a negative catalyst that will not make any investors happy and they rather sell as well. It is a similar example of if you are not believing in your own stock, why should we? The positive catalyst would be, insiders loading the shares when it is trading at a discounted price.
Most of the investors start selling their losing stock to avoid paying higher taxes at the end of the year. Once the selling-off started, it can continue to lower the stock price and more investors will be paying margin fees, panic selling, and so on.
WISH STOCK UPDATE:
Recent Insiders Selling Activity:
|2021-11-19||2021-11-17||4||Shah Devang||WISH||Class A Common Stock||S – Sale||D||4.8877||-94,940||-464|
|2021-11-19||2021-11-17||4||Szulczewski Piotr||WISH||Class A Common Stock||S – Sale||D||4.8877||-77,290||-378|
|2021-11-19||2021-11-17||4||Liu Pai||WISH||Class A Common Stock||S – Sale||D||4.8877||-87,949||-430|
|2021-11-19||2021-11-17||4||Kassaei Hamid Reza||WISH||Class A Common Stock||S – Sale||D||4.8876||-58,145||-284|
|2021-11-19||2021-11-17||4||Jain Tarun Kumar||WISH||Class A Common Stock||S – Sale||D||4.8876||-67,605||-330|
|2021-11-19||2021-11-17||4||Just Brett||WISH||Class A Common Stock||S – Sale||D||4.8876||-23,252||-114|
|2021-10-20||2021-10-18||4||Szulczewski Piotr||WISH||Class A Common Stock||S – Sale||D||5||-73,904||-370|
|2021-10-20||2021-10-18||4||Shah Devang||WISH||Class A Common Stock||S – Sale||D||5||-10,333||-52|
|2021-10-20||2021-10-18||4||Oliver Jennifer||WISH||Class A Common Stock||S – Sale||D||5||-417||-2|
|2021-10-20||2021-10-18||4||Liu Pai||WISH||Class A Common Stock||S – Sale||D||5||-2,459||-12|
|2021-10-20||2021-10-18||4||Just Brett||WISH||Class A Common Stock||S – Sale||D||5||-1,753||-9|