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Is It Too Late to Buy Wish Stock?

TheMotleyFool

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ContextLogic (NASDAQ: WISH), the parent company of the e-commerce marketplace Wish, has burned a lot of investors since its IPO in December 2020.

Wish priced its IPO at $24, but it started trading at just $22.75. The stock subsequently soared to an all-time high of $31.19 last February during the meme stock rally, but it now trades at less than $2 a share.

Wish initially dazzled investors with its rapid revenue growth rates, but it lost its momentum shortly after its public debut. Investors also dumped e-commerce stocks as the pandemic-induced lockdowns ended, and rising interest rates sparked a sell-off in speculative and unprofitable companies.

Source Fool.com

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