WISH: Growling Bear, or Tantalizing Risk?
- Date: 21-Nov-2021
- Source: Nasdaq
- Sector:Retail
- Country:Middle East
WISH: Growling Bear, or Tantalizing Risk?
I am bearish on ContextLogic (WISH), but for high-risk tolerant investors, WISH is challengingly attractive.
The stock went public 11 months ago at $24 and climbed to $32.85. The share price collapsed during 2021. It closed recently at $4.39. The average ContextLogic price target, at $5.10, implies a 20% change from the current price. Three Wall Street analysts recommend a Hold and two a Sell of shares.
It will take a siren event to spark a buying surge that drives up the share price. Investors face an arduous trudge, watching the new management team structurally address the plethora of customer complaints. (See Analysts’ Top Stocks on TipRanks)
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