Wish's stock tumbled as its monthly active users (MAUs) declined, its revenue growth decelerated, and it continued to bleed red ink. Its logistics and quality control issues, the abrupt resignation of its founder and CEO Piotr Szulczewski, regulatory headwinds in France, and insider sales exacerbated that sell-off.
Shares of e-commerce and logistics company ContextLogic (NASDAQ: WISH), commonly called Wish, plunged 16.6% in December, according to data provided by S&P Global Market Intelligence. The tough times for Wish started on Dec. 2 when Kunal Madhukar, an analyst with UBS, downgraded the stock from buy to neutral, according to The Fly. To summarize, Madhukar believes revenue will be challenged in 2022 and expenses will remain high.
Investors need to pay close attention to ContextLogic (WISH) stock based on the movements in the options market lately.