Wish Stock: 5 Things to Know About ContextLogic as the Popular Meme Stock Surges

ContextLogic (NASDAQ:WISH) stock is on the rise Thursday as retail investors push it higher with other stocks in the meme rally.

The logo and information for the Wish (WISH) mobile app are displayed on a smartphone.

Source: sdx15 / Shutterstock.com

Shares of WISH stock continue to be a favorite among Reddit traders, as well as those on other forms of social media. There’s plenty of discussions today on these websites with users trying to push shares of the stock higher.

With all of this comes heavy trading of WISH stock. As of this writing, more than 48 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 22.9 million shares.

While WISH stock is technically out of the penny stock range with shares trading above $10 each, that doesn’t mean investors have nothing to worry about. Before this recent meme stock rally, it was below that $10 price point. That means investors will still want to be careful if they plan to jump in on the latest rally.

Keeping all of that in mind, here’s what you need to know about ContextLogic and WISH stock.

  • ContextLogic is the company behind the e-commerce retail platform Wish.com.
  • The company allows buyers and sellers to make transactions online with prices being incredibly low on some products.
  • However, it also has a reputation for carrying fake products that don’t match their descriptions.
  • Wish was founded in 2010 by Piotr Szulczewski and Danny Zhang.
  • The company’s current headquarters is located in San Franciso, Calif.

WISH stock was up 3.8% as of Tuesday morning but is still down 39.3% since the start of the year.

Investors looking for more hot stock news today should keep reading.

InvestorPlace.com has all the most recent stock news with our daily coverage of the market. For that that covers what’s happening with Torchlight Energy Resources (NASDAQ:TRCH), Petco Health and Wellness (NASDAQ:WOOF), as well as what was going on in pre-market trading. You can learn all about that at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/06/wish-stock-5-things-to-know-about-contextlogic-as-the-popular-meme-stock-surges/.

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