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ContextLogic Inc. (WISH) Dips More Than Broader Markets: What You Should Know

This story originally appeared on Zacks

ContextLogic Inc. (WISH) closed at $2.24 in the latest trading session, marking a -0.88% move from the prior day. This move lagged the S&P 500’s daily loss of 0.38%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.05%.

– Zacks

Coming into today, shares of the company had lost 10.67% in the past month. In that same time, the Retail-Wholesale sector lost 6.47%, while the S&P 500 lost 6.25%.

Wall Street will be looking for positivity from ContextLogic Inc. as it approaches its next earnings report date. In that report, analysts expect ContextLogic Inc. to post earnings of -$0.10 per share. This would mark year-over-year growth of 96.71%. Meanwhile, our latest consensus estimate is calling for revenue of $303.63 million, down 61.76% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for ContextLogic Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ContextLogic Inc. is holding a Zacks Rank of #4 (Sell) right now.

The Internet – Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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