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Why ContextLogic Plummeted 30% Today

TheMotleyFool

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Shares of ContextLogic (NASDAQ: WISH) plunged 30% on Thursday, a day after the mobile discount e-commerce platform reported a larger-than-expected loss, although revenue beat Wall Street forecasts.

The owner of the Wish.com website went public late last year at a price of $24 per share, but since February has traded below that level. Today the stock fell off the table, closing at just above $8 per share.

Image source: Getty Images.

Source Fool.com

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