The stock rate of ContextLogic Inc (NASDAQ:WISH) enhanced by 9.39% today. There are no company-specific news reports or regulatory filings that appear to be driving up the price so it looks like exterior aspects are at play.

Especially, the Wish Stock Price Today rises appear to be driven by a more comprehensive rally in the supposed “meme stocks.” As well as data from Quiver Quantitative suggests that there has actually been a rise in discussions regarding meme stocks on numerous social media sites platforms. And also, there has actually been an uptick in out-of-the-money phone call acquiring for the meme stocks, triggering a gamma capture and increasing the price.

Various other “meme stocks” that have seen an enter rate today include:

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

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

AMC Amusement 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

Sundial 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 entirely over. For capitalists in ContextLogic (NASDAQ: WISH) and WISH stock at least, the price activity of late has told that tale.

Wish, a ContextLogic firm an around the world on the internet buying application.
Resource: sdx15/ Shutterstock.com
After hitting an optimal of more 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 move of around 6% is just the most up to date in an absolute beatdown of this retail investor favorite.

Investors had actually previously gotten on ContextLogic as an one-of-a-kind e-commerce firm with the capability to potentially take on some enormous leviathans in the room. Certainly, with an appraisal of only $1.1 billion currently, WISH stock had felt like a suitable gamble. Thinking about just how rapid other e-commerce players have run, it makes good sense.

However, ContextLogic’s company version is a bit different from other providers. This firm links individuals with merchants straight, attending to a much more seamless acquisition process for inexpensive things. That stated, as rising cost of living has raved on and low-cost products have actually been repriced greater (along with surging delivery costs), ContextLogic’s company version isn’t as appealing as it when was.

On top of that, there occurs to be yet another bearish company-specific catalyst dragging WISH stock down today. So, let’s study what financiers are watching with WISH currently.

Bearish Analyst View Driving WISH Stock Lower
Today, analyst Kunal Madhukar at UBS gave a reduced cost target for WISH stock. While UBS did maintain its neutral score, it lowered its cost target to $2 per share. Previously, the target had stood at $4.

On the whole, downgrades are never good for an offered stock. Capitalists of all red stripes often tend to focus on analyst ratings for a reason. These seasoned analysts design out assumptions for a given company, offering their take on its potential customers over the next year. What’s more, while lots of do take into consideration expert records to be lagging indications of market sentiment and cost activity, there is fundamental value in what experts have to state.

Notably, this is the 2nd such downgrade from UBS over the past three months. There are some get rankings as well as excellent rate targets for ContextLogic. However, on the whole, analysts seem taking a bearish sight of WISH right now. Accordingly, until this sentiment shifts, the market appears to exterior siding with them.