WISH Stock: Why Context Logic is buy at 52 weeks low?
WISH stock has been hammered down to 52 weeks low with uncertainty and an increase in market volatility. The stock price is looking attractive at this level, however, the technical analysis is indicating that it is in a bearish trend. Looking at the fundamental of the e-commerce business Context-logic WISH app, it has been growing year over year. Similarly comparing with other e-commerce business, those stocks are trading at much higher prices.
“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 Szulczewski.
Our goal is to ensure that users love coming to Wish often for an entertaining shopping experience where they find unique products at affordable prices. We expect our focus on enhancing product quality and selection, providing an unmatched fun and entertaining shopping experience, and improving the performance of the app, will drive new user growth, retention and profitability over the long term. We are working hard to improve our performance and are confident that Wish will emerge as a stronger business.”
Currently, WISH stock is at more than -82% discount from it’s all time high price, trading around $5.72 – $6 price range. If you bought this stock during it’s initial IPO price, you are down more than 65% as of now.
Wish is still making a big revenue year over year and with the slowdown from the Pandamic, Wish did struggle in 2021.
WISH has more than 90 million active users using their e-commere app and have more than 500,000 merchants registered.