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The Law Offices of Frank R. Cruz announces an investigation of ContextLogic Inc. ("ContextLogic" or the "Company") (NASDAQ: WISH) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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In December 2020, ContextLogic completed its initial public offering ("IPO") in which it sold 46 million shares at $24 per share.
On May 12, 2021, ContextLogic reported a first quarter loss of nearly 21 cents per share, or $128 million on sales of $772 million compared to a loss of $66 million on sales of $440 million the same quarter last year.
On this news, ContextLogic’s stock price fell $3.36 per share, or approximately 29%, to close at $8.11 per share on May 12, 2021.
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If you purchased ContextLogic securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005493/en/