Trade ContextLogic Inc - LOGC CFD

ContextLogic Inc Company profile

Track the Wish share price chart and spot the best levels for profitable CFD trades. 

Founded in 2010, Wish positions itself as one of the largest e-commerce marketplaces in the world. Operated by the parent company ContextLogic, Wish vendors a huge variety of affordable products to clients around the world. 

The company says it appeals to “value-conscious customers”, providing personalised shopping experience, available to everyone from mobile devices. Wish attracts 500,000 merchants and offers more than 150 million items for sale. The company can boast of over 100 million monthly active users and sells around 1.8 million products per day. 

Headquartered in San Francisco, Wish is active in more than 100 countries of the world. The company was created by a former Google engineer Piotr Szulczewski and was called ContextLogic. In 2010 it got $1.7m in investment and in 2011 was relaunched as Wish.

The parent company of Wish, ContextLogic inc (WISH),  floated on the Nasdaq stock exchange on December 16, 2020, following a series of successful IPOs, including Airbnb (ABNB) and DoorDash (DASH). 

The e-commerce retailer offered 46 million shares at $24 per share. That gave the company a market valuation of around $17bn. This is much larger than Wish’s last fundraising round as a private company in August 2019, when it raised $300m at a valuation of $11bn.

The Wish share price of $24 appeared to be the high end of the estimated ContextLogic inc share price range of $22-$24. Eventually, the Wish IPO raised $1.1bn.

Despite the fact that Wish went public at a time when online sales are soaring, becoming a new normal in the post-pandemic world, the Wish stock chart plunged 16.5 per cent on the day of its public debut, closing at $20.05. 

According to the company’s prospectus, Wish reported the revenue of $1.75 billion for the nine months of 2020 ended September 30, a growth rate of 32 per cent. It also revealed a loss of $120m vs $24m in 2019. In 2020, the company’s catalog grew to more than 150 million items and it sells almost two million items per day.

Commenting on its IPO plans, the company said in its filing: "We launched Wish with a simple mission — to bring an affordable and entertaining mobile shopping experience to billions of consumers around the world. We are focused on democratising mobile commerce by making it affordable and accessible to anyone."

Follow the Wish stock price today and decide whether to open a long or a short trade, depending on the stock’s performance. Track the current Wish stock price live and decide whether to include the e-commerce services provider into your investment portfolio.

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