The stock price of ContextLogic Inc (NASDAQ: WISH) boosted by 9.39% today. This is why.

The stock price of ContextLogic Inc (NASDAQ:WISH) increased by 9.39% today. There are no company-specific news reports or regulatory filings that seem increasing the price so it feels like external aspects are at play.

Particularly, the Wish stock price increases appear to be driven by a wider rally in the supposed “meme stocks.” As well as data from Quiver Measurable recommends that there has been a surge in discussions concerning meme stocks on different social networks platforms. Plus, there has been an uptick in out-of-the-money telephone call acquiring for the meme stocks, creating a gamma squeeze and also driving up the rate.

Other “meme stocks” that have seen an enter cost today include:

GameStop Corp. (NYSE: GME)– Up 30.86% today

Bed Bath & Beyond Inc. (NASDAQ: BBBY)– Up 2.26% today

AMC Amusement Holdings Inc (NYSE: AMC)– Up 15.02% today

Express, Inc. (NYSE: EXPR)– Up 9.73% today

Clover Health And Wellness Investments Corp (NASDAQ: CLOV)– Up 3.5% today

BlackBerry Ltd (NYSE: BB)– Up 4.91% today

Ocugen Inc (NASDAQ: OCGN)– Up 3.23% today

Koss Company (NASDAQ: KOSS)– Up 29.48% today

Timepiece Growers Inc (NASDAQ: SNDL)– Up 10.01% today

Why Is ContextLogic (DESIRE) Stock Down Today?

If it had not already, it currently appears clear that the meme-stock mania financiers saw over a year back is totally over. For capitalists in ContextLogic (NASDAQ: WISH) and WISH stock at the very least, the cost action of late has informed that tale.

Wish, a ContextLogic company a worldwide on the internet purchasing app.
Resource: sdx15/
After striking an optimal of more than $32 per share previously in 2014, WISH stock has actually given that decreased to $1.65 per share at the time of this writing. Today’s downward move of around 6% is merely the most up to date in an outright beatdown of this retail financier fave.

Investors had actually formerly jumped on ContextLogic as an unique e-commerce business with the ability to potentially take on some huge leviathans in the area. Without a doubt, with an appraisal of just $1.1 billion now, WISH stock had felt like a respectable gamble. Taking into consideration exactly how quick other ecommerce players have actually run, it makes sense.

Nevertheless, ContextLogic’s business model is a bit various from various other providers. This company links users with merchants directly, attending to a much more smooth acquisition process for inexpensive items. That claimed, as rising cost of living has surged on and also discounted things have actually been repriced higher (along with rising shipping prices), ContextLogic’s service design isn’t as attractive as it once was.

On top of that, there takes place to be yet an additional bearish company-specific stimulant dragging WISH stock down today. So, let’s study what investors are watching with WISH currently.

Bearish Analyst Sentiment Driving WISH Stock Lower
Today, expert Kunal Madhukar at UBS gave a reduced price target for desire stock. While UBS did preserve its neutral rating, it reduced its rate target to $2 per share. Formerly, the target had actually stood at $4.

In general, downgrades are never ever good for an offered stock. Investors of all stripes often tend to take notice of analyst rankings for a factor. These seasoned experts model out expectations for a provided firm, supplying their take on its potential customers over the next year. What’s more, while many do consider expert reports to be lagging indications of market sentiment as well as cost activity, there is intrinsic worth in what experts have to say.

Notably, this is the 2nd such downgrade from UBS over the past 3 months. There are some buy scores as well as outstanding rate targets for ContextLogic. Nevertheless, overall, analysts appear to be taking a bearish view of WISH right now. Appropriately, up until this view shifts, the market shows up to exterior siding with them.