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.
SAN FRANCISCO, May 11, 2022--WISH Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
ContextLogic (NASDAQ: WISH), the e-commerce company better known as Wish, and Skillz (NYSE: SKLZ), the gaming platform company that merged with a special purpose acquisition company (SPAC) in late 2020, both burned plenty of investors over the past year. Wish went public at $24 per share in December 2020, and Skillz opened at $17.89 on its first trading day that same month. Many investors have clearly given up on Wish and Skillz, but both stocks look fundamentally cheap at these levels.