How to buy ContextLogic (WISH) stock after Tuesday’s rebound
- WISH stock gained 15% after announcing a two-year agreement with prestaShop.
- Mark Mahaney rated WISH stock at outperform with a price target of $22 in April.
- If you are looking to buy WISH stock now this guide is for you.
ContextLogic Inc (NASDAQ: WISH) is best known for its e-commerce platform called Wish. WISH stock was among the most hyped initial public offerings in recent months given the platform’s extreme popularity among bargain seekers.
But ContextLogic stock disappointed early investors. Shares of WISH were first listed at $24 in late 2020 and have since seen downward momentum, bottoming recently at $7.52. Perhaps as a saving grace to ContextLogic stock, WISH found strong support from the Reddit community as it was officially classified as a “meme stock”.
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On Tuesday, WISH stock gained 15% after announcing a two-year agreement with prestaShop. On Wednesday, shares reversed its late afternoon losses and this could prove to be early signs of a sustained rebound.
If you are looking to buy ContextLogic (WISH) stock now, this guide is for you.
How & where to buy ContextLogic (WISH) stock now
Over the past 15 years or so we have seen an explosion of financial technology (fintech) companies challenging legacy stock brokers that have existed for many decades. These new-age and tech-focused stock brokers have made buying ContextLogic or WISH stock easier than ever.
All you need to do is select a trustworthy and reputable stock broker and then open and fund your account. We know that there are many options to choose from so our team of financial experts explored multiple options to determine where is the best place for you to buy WISH now.
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The case for buying WISH stock
Evercore ISI analyst Mark Mahaney is considered among the top Internet analysts on Wall Street. He initiated coverage of WISH stock with an Outperform rating and $22 price target back in April.
Granted, Mahaney is on the wrong side of the trade for the time being. But the analyst is assuming a long-term approach and his bullish stance for buying ContextLogic stock is based on a unique shopping experience.
Mahaney has a point. The Wish platform is beloved by millions upon millions of people as it provides a “treasure chest” like buying experience. The cheap prices translate to a favorable level of engagement as there is usually something for everyone to buy.
By the company’s own admission, the value-conscious shopper was “disproportionately affected by the pandemic.” But as COVID-19 daily infection cases in the US continue trending at 11-month lows and Europe continues to reopen, we would expect the key consumer segment to return back to the platform.