Why Is Everyone Talking About Wish Stock?
Share prices of ContextLogic (NASDAQ: WISH), which owns the e-commerce platform Wish, plunged to an all-time low on Aug. 13 after it posted ugly second-quarter numbers that missed analysts' estimates.
Wish's revenue fell 6% year over year to $656 million, missing estimates by $67 million and marking its first quarter of declining sales since its IPO last December. Its net loss widened from $11 million to $111 million, or $0.18 per share, which also missed estimates by four cents a share.
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Source Fool.com
