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ContextLogic shares fell 19.13% in premarket trading

Tiger Newspress2021-08-13

ContextLogic shares fell 19.13% in premarket trading.

The parent of e-commerce site Wish said demand for its products slowed, fewer users and active buyers used its platform, and costs rose more than it had expected.

ContextLogic Inc. reported a second-quarter loss of $111 million, or 18 cents a share, compared with a loss of $11 million, or 10 cents a share, in the year-ago period, when the company was private. Sales fell 6% to $656 million from $701 million a year ago.

Analysts on average expected the company to report losses of 13 cents a share on sales of $723 million, according to FactSet.

Logistics improved and “we expected user retention to improve now that we have more reliable logistics, but instead retention declined,” the company said in a letter to investors.

“While we are not satisfied with these results, the second quarter of 2021 was already going to be a challenging year-over-year comparison,” since the company benefited from a significant increase in mobile usage and less competition from brick-and-mortar stores, Wish said.

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Comment20

  • Stx
    ·2021-08-15
    WI$H
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  • Dave Fu
    ·2021-08-15
    Patience 
    Reply
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  • ahblackblack
    ·2021-08-13
    [Cry] 
    Reply
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  • Bernardng999
    ·2021-08-13
    Just like 40% off of Pinduoduo.
    Reply
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  • Slipperypizzas
    ·2021-08-13
    Gotta buy now. Wish is basically taobao and ezBuy for Americans. If you love tb, buy $WISH
    Reply
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  • PotatoPeas
    ·2021-08-13
    Interesting 
    Reply
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    • AgnL
      ok
      2021-08-13
      Reply
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    • dandan_4896
      10 men 10 women choose based on physical attractiveness
      2021-08-13
      Reply
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  • super7white
    ·2021-08-13
    Like and comment pls ?
    Reply
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    • Wisher
      ?
      2021-08-14
      Reply
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    • JY00
      [Smile]
      2021-08-13
      Reply
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  • DarrenyYSM
    ·2021-08-13
    Please go back up soon.
    Reply
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  • NeedMoneyPls
    ·2021-08-13
    This should follow the same trend as $Pinterest, Inc.(PINS)$.  Can buy in and maybe sell at $8 once the people who "buy the dip" have bought whatever they need. 
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  • rocket to the moon
    ·2021-08-13
    My wish share [流淚] 
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    • Yuanball
      :(
      2021-08-13
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  • b1gman
    ·2021-08-13
    help like pls!
    Reply
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  • MuahIke
    ·2021-08-13
    Noice
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  • MuahIke
    ·2021-08-13
    Noice
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  • BARKATH
    ·2021-08-13
    Anyone has any clue on WISH forecast next few months? 
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    • 小时候可帅了00
      中长线还行,短线没有希望了。
      2021-08-13
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    • 宝宝金水_
      你有吗?如果没有近期可以考虑建仓。
      2021-08-13
      Reply
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    • 哎呀呀小伙子
      一到财报季就狗吃屎,木有改变的。
      2021-08-13
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    View more 2 comments
  • glonna
    ·2021-08-13
    I have some and it's really hard to sell here.....
    Reply
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    • glonna
      thank you
      2021-08-13
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    • BraydenChin
      stay strong bro.
      2021-08-13
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  • johnny_bui
    ·2021-08-13
    Buy the dio
    Reply
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    • kk__soh
      Lower avg
      2021-08-13
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  • Willretard8
    ·2021-08-13
    $ContextLogic Inc.(WISH)$if you love to buy rhe dip here you go 40% discount
    Reply
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    • Aun9
      Ya
      2021-08-13
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  • Wongce
    ·2021-08-13
    Thanks
    Reply
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  • To the mooon
    ·2021-08-13
    Don’t worry WIsH got this 
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    • oneplus374
      yea
      2021-08-13
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    • gky
      ok
      2021-08-13
      Reply
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  • Grit100
    ·2021-08-13
    Like n comment pls. Thx
    Reply
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