Wish’s parent company ContextLogic plunges 25%
Shares of ContextLogic Inc., the parent company of the e-commerce platform Wish, tumbled more than 25% on Friday after the firm came out with a worse-than-expected earnings report for the year’s second quarter.
The San Francisco-based tech firm posted a wider-than-anticipated net loss and an unexpected drop in revenue, as opposed to a slight increase posted in the estimates.
The shares of ContextLogic went for $7.11 at 9:59 am ET, marking a 25.03% plummet.
Get involved!
Comments