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ContextLogic Inc. (WISH) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 min read

ContextLogic Inc. (WISH) closed at $9.16 in the latest trading session, marking a -0.22% move from the prior day. This change lagged the S&P 500's daily gain of 0.24%.

Prior to today's trading, shares of the company had lost 34.62% over the past month. This has lagged the Retail-Wholesale sector's gain of 0.22% and the S&P 500's gain of 4.09% in that time.

Wall Street will be looking for positivity from WISH as it approaches its next earnings report date. This is expected to be August 12, 2021.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.56 per share and revenue of $3.19 billion, which would represent changes of +90.46% and +25.61%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for WISH. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.81% lower. WISH currently has a Zacks Rank of #4 (Sell).

The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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