Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ContextLogic Inc. shares valued at $156,400 were sold by Liu Ying Vivian on Mar 08. At $0.46 per share, Liu Ying Vivian sold 340,000 shares. The insider’s holdings dropped to 793,423 shares worth approximately $5.71 million following the completion of this transaction.
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Also, Wang Shuyan (Rachel) sold 20,337 shares, netting a total of over 9,721 in proceeds. Following the sale of shares at $0.48 each, the insider now holds 0 shares.
Before that, Jain Tarun Kumar had sold 88,000 shares from its account. In a trade valued at $40,058, the Former Chief Product Officer traded ContextLogic Inc. shares for $0.46 each. Upon closing the transaction, the insider’s holdings decreased to 88,000 shares, worth approximately $0.65 million.
Analyzing WISH Stock Performance
On Thursday, ContextLogic Inc. [NASDAQ: WISH] plunged -7.34% to $7.20. The stock’s lowest price that day was $7.12, but it reached a high of $7.77 in the same session. During the last five days, there has been a drop of approximately -13.98%. Over the course of the year, ContextLogic Inc. shares have dropped approximately -50.79%. Shares of the company reached a 52-week high of $32.10 on 02/13/23 and a 52-week low of $6.36 on 05/03/23. A 50-day SMA is recorded $9.19, while a 200-day SMA reached $20.13. Nevertheless, trading volume fell to 0.63 million shares from 0.48 million shares the previous day.
Support And Resistance Levels for ContextLogic Inc. (WISH)
According to the 24-hour chart, there is a support level at 6.96, which, if violated, would cause prices to drop to 6.71. In the upper region, resistance lies at 7.61. The next price resistance is at 8.01. RSI (Relative Strength Index) is 39.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 95.21%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ContextLogic Inc. subject to short interest?
Stocks of ContextLogic Inc. saw a sharp steep in short interest on May 14, 2023 dropping by -0.18 million shares to 2.56 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 2.74 million shares. A decline of -7.03% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.23 of the overall float, the days-to-cover ratio (short ratio) decline to 1.23.
Which companies own the most shares of ContextLogic Inc. (WISH)?
According to The Vanguard Group, Inc. filings, the company currently owns 1,408,098 shares, which is about 6.08% of the total WISH shares outstanding. The investor’s shares have plunged by -357,776 from its previous 13-F filing of 1765874.0 shares. With the completion of the buy transaction, Citadel Advisors LLC’s stake is now worth $3,413,243. SSgA Funds Management, Inc. reduced a -34.71% interest valued at $2.77 million while Geode Capital Management LLC purchased a 16,484 stake. A total of -194,902 shares of ContextLogic Inc. were bought by Renaissance Technologies LLC during the quarter, and 0 by Comprehensive Financial Managemen. In its current portfolio, ProShare Advisors LLC holds 186,747 shares valued at $1.35 million.
In terms of ContextLogic Inc. share price expectations, FactSet research, analysts set an average price target of $8.56 in the next 12 months, up nearly 0.39% from the previous closing price of $7.77. Analysts anticipate ContextLogic Inc. stock to reach $12.00 by 2023, with the lowest price target being $7.00. In spite of this, 6 analysts ranked ContextLogic Inc. stock as an Underweight at the end of 2023.