ContextLogic (NASDAQ:WISH) Shares Down 0.7% – Here’s What Happened

ContextLogic Inc. (NASDAQ:WISH)’s share price dropped 0.7% during mid-day trading on Wednesday . The company traded as low as $7.37 and last traded at $7.46. Approximately 215,743 shares changed hands during trading, a decline of 78% from the average daily volume of 991,637 shares. The stock had previously closed at $7.51.

ContextLogic Trading Down 1.3 %

The firm’s 50 day moving average price is $7.57 and its 200-day moving average price is $6.85. The company has a market cap of $173.23 million, a P/E ratio of -0.59 and a beta of 2.09.

Institutional Trading of ContextLogic

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of ContextLogic by 238.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 30,088 shares of the company’s stock worth $164,000 after purchasing an additional 21,198 shares during the last quarter. Barclays PLC lifted its stake in ContextLogic by 3,723.7% in the third quarter. Barclays PLC now owns 46,190 shares of the company’s stock valued at $252,000 after buying an additional 44,982 shares during the period. HighTower Advisors LLC boosted its holdings in ContextLogic by 6.8% during the third quarter. HighTower Advisors LLC now owns 54,442 shares of the company’s stock worth $297,000 after buying an additional 3,467 shares during the last quarter. Quarry LP acquired a new position in shares of ContextLogic during the 3rd quarter worth about $476,000. Finally, Geode Capital Management LLC increased its stake in shares of ContextLogic by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 266,688 shares of the company’s stock valued at $1,454,000 after acquiring an additional 33,702 shares during the last quarter. Institutional investors and hedge funds own 46.05% of the company’s stock.

About ContextLogic

ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects consumers to merchants. It also provides marketplace and logistics services to merchants. ContextLogic Inc was incorporated in 2010 and is headquartered in San Francisco, California.