The stock rate of ContextLogic Inc (NASDAQ:WISH) boosted by 9.39% today. There are no company-specific report or regulative filings that seem increasing the cost so it seems like exterior factors are at play.

Especially, the Wish Stock Price Today increases seem driven by a broader rally in the so-called “meme stocks.” As well as information from Quiver Quantitative recommends that there has been a rise in discussions about meme stocks on different social media sites platforms. And also, there has actually been an uptick in out-of-the-money telephone call buying for the meme stocks, triggering a gamma press and also driving up the rate.

Other “meme stocks” that have seen an enter rate today consist of:

GameStop Corp. (NYSE: GME)– Up 30.86% today

Bed Bath & Beyond Inc. (NASDAQ: BBBY)– Up 2.26% today

AMC Entertainment Holdings Inc (NYSE: AMC)– Up 15.02% today

Express, Inc. (NYSE: EXPR)– Up 9.73% today

Clover Health Investments Corp (NASDAQ: CLOV)– Up 3.5% today

BlackBerry Ltd (NYSE: BB)– Up 4.91% today

Ocugen Inc (NASDAQ: OCGN)– Up 3.23% today

Koss Company (NASDAQ: KOSS)– Up 29.48% today

Timepiece Growers Inc (NASDAQ: SNDL)– Up 10.01% today

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Why Is ContextLogic (DESIRE) Stock Down Today?

If it had not currently, it now appears clear that the meme-stock mania capitalists saw over a year earlier is completely over. For investors in ContextLogic (NASDAQ: WISH) and WISH stock a minimum of, the rate action of late has actually informed that story.

Wish, a ContextLogic business an around the world online purchasing application.
Source: sdx15/ Shutterstock.com
After striking a peak of greater than $32 per share previously in 2015, WISH stock has actually considering that decreased to $1.65 per share at the time of this writing. Today’s downward step of around 6% is merely the most recent in an outright beatdown of this retail investor favorite.

Financiers had actually previously jumped on ContextLogic as a distinct e-commerce business with the capacity to potentially take on some enormous leviathans in the room. Certainly, with an evaluation of just $1.1 billion currently, WISH stock had actually seemed like a respectable gamble. Taking into consideration how quick other ecommerce players have run, it makes sense.

However, ContextLogic’s service design is a bit various from various other service providers. This firm attaches individuals with sellers straight, attending to an extra smooth purchase procedure for low-priced items. That said, as inflation has raged on and low-priced items have been repriced higher (alongside rising shipping prices), ContextLogic’s service version isn’t as appealing as it as soon as was.

In addition to that, there occurs to be yet one more bearish company-specific driver dragging WISH stock down today. So, let’s study what capitalists are seeing with WISH now.

Bearish Expert Sentiment Driving WISH Stock Lower
Today, expert Kunal Madhukar at UBS gave a lower cost target for dream stock. While UBS did keep its neutral ranking, it decreased its cost target to $2 per share. Formerly, the target had stood at $4.

Generally, downgrades are never good for an offered stock. Investors of all stripes tend to take notice of expert rankings for a reason. These experienced experts design out assumptions for a provided business, supplying their take on its potential customers over the following year. What’s more, while numerous do consider expert records to be delayed signs of market belief and price activity, there is intrinsic value in what analysts need to claim.

Especially, this is the 2nd such downgrade from UBS over the past three months. There are some buy rankings and remarkable cost targets for ContextLogic. Nevertheless, overall, analysts seem taking a bearish view of WISH now. Accordingly, up until this view changes, the marketplace shows up to house siding with them.