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OFFON

CONTEXTLOGIC INC.

(WISH)
  Report
Delayed Quote. Delayed Nasdaq - 09/17 04:00:00 pm
6.54 USD   +3.65%
09/16INSIDER SELL : Contextlogic
MT
09/14INSIDER SELL : Contextlogic
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09/10SOCIAL BUZZ : Wallstreetbets Stocks Mixed, Three New Names on Reddit Radar
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DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against ContextLogic Inc. and Encourages Investors to Contact the Firm

07/14/2021 | 08:01pm EDT

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors that purchased ContextLogic Inc. (NASDAQ: WISH) securities between December 16, 2020 and May 12, 2021, both dates inclusive (the “Class Period”); and/or ContextLogic common stock pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted on December 16, 2020 (the “IPO” or “Offering”). Investors have until July 16, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On May 12, 2021, when ContextLogic announced 1Q21 financial results for the interim period ended March 31, 2021, it disclosed that its MAUs had declined another 7% to just 101 million. The Company’s forward sales guidance also fell short, with its 2Q21 revenue guidance of just $715 million to $730 million coming in significantly less than the $759 million the market had been led to expect and far less than the guidance of $735 to $750 million provided for 1Q21.

On this news, the market price of ContextLogic common stock declined $3.36 per share, or 29%, to close at $8.11 per share on May 13, 2021, on unusually high trading volume.

The complaint alleges that, during the Class Period, defendants made materially false and misleading statements regarding the Company's business. Specifically, defendants' registration statement and prospectus issued in connection with the Company's initial public offering ("IPO") contained statements which were materially false and misleading because they failed to disclose and misrepresented the following adverse facts that existed at the time of the IPO: (a) that ContextLogic’s 4Q20 monthly active users (“MAUs”) had declined materially and were not then growing; and (b) that as a result of the foregoing, defendants materially overstated the Company's business metrics and financial prospects.

If you purchased ContextLogic securities during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.


© Business Wire 2021
All news about CONTEXTLOGIC INC.
09/16INSIDER SELL : Contextlogic
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Analyst Recommendations on CONTEXTLOGIC INC.
More recommendations
Financials (USD)
Sales 2021 2 271 M - -
Net income 2021 -419 M - -
Net cash 2021 1 253 M - -
P/E ratio 2021 -10,4x
Yield 2021 -
Capitalization 4 107 M 4 107 M -
EV / Sales 2021 1,26x
EV / Sales 2022 1,22x
Nbr of Employees 875
Free-Float 76,2%
Chart CONTEXTLOGIC INC.
Duration : Period :
ContextLogic Inc. Technical Analysis Chart | WISH | US21077C1071 | MarketScreener
Technical analysis trends CONTEXTLOGIC INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Last Close Price 6,54 $
Average target price 9,83 $
Spread / Average Target 50,4%
EPS Revisions
Managers and Directors
Piotr Szulczewski Chief Executive Officer & Director
Just Brett Co-CFO & Chief Accounting Officer
Jennifer Oliver Co-Chief Financial Officer
Jacqueline D. Reses Executive Chairman
Pai LIu Vice President-Data Science
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