ContextLogic (NASDAQ:WISH) Shares Down 0.7% – Here’s Why

ContextLogic Inc. (NASDAQ:WISH) shares traded down 0.7% on Wednesday . The stock traded as low as $7.37 and last traded at $7.46. 215,743 shares were traded during mid-day trading, a decline of 78% from the average session volume of 991,637 shares. The stock had previously closed at $7.51.

ContextLogic Stock Performance

The firm has a market cap of $173.23 million, a price-to-earnings ratio of -0.59 and a beta of 2.09. The business’s 50-day moving average is $7.57 and its 200-day moving average is $6.85.

Institutional Investors Weigh In On ContextLogic

Large investors have recently bought and sold shares of the business. HighTower Advisors LLC boosted its stake in ContextLogic by 6.8% in the third quarter. HighTower Advisors LLC now owns 54,442 shares of the company’s stock worth $297,000 after purchasing an additional 3,467 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in ContextLogic by 238.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 30,088 shares of the company’s stock worth $164,000 after buying an additional 21,198 shares in the last quarter. Geode Capital Management LLC grew its holdings in ContextLogic by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 266,688 shares of the company’s stock worth $1,454,000 after acquiring an additional 33,702 shares during the last quarter. Barclays PLC increased its position in ContextLogic by 3,723.7% in the 3rd quarter. Barclays PLC now owns 46,190 shares of the company’s stock valued at $252,000 after acquiring an additional 44,982 shares in the last quarter. Finally, Quarry LP acquired a new stake in ContextLogic in the 3rd quarter valued at about $476,000. 46.05% of the stock is currently owned by institutional investors.

About ContextLogic

ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects consumers to merchants. It also provides marketplace and logistics services to merchants. ContextLogic Inc was incorporated in 2010 and is headquartered in San Francisco, California.