The stock cost of ContextLogic Inc (NASDAQ:WISH) increased by 9.39% today. There are no company-specific news reports or regulative filings that seem driving up the price so it appears like external factors are at play.

Particularly, the Wish Stock Price Today boosts appear to be driven by a wider rally in the so-called “meme stocks.” As well as data from Quiver Quantitative recommends that there has actually been a rise in conversations about meme stocks on different social networks systems. And also, there has actually been an uptick in out-of-the-money call buying for the meme stocks, triggering a gamma squeeze as well as driving up the rate.

Other “meme stocks” that have seen an enter rate today consist of:

GameStop Corp. (NYSE: GME)– Up 30.86% today

Bed Bathroom & Beyond Inc. (NASDAQ: BBBY)– Up 2.26% today

AMC Enjoyment Holdings Inc (NYSE: AMC)– Up 15.02% today

Express, Inc. (NYSE: EXPR)– Up 9.73% today

Clover Health Investments Corp (NASDAQ: CLOV)– Up 3.5% today

BlackBerry Ltd (NYSE: BB)– Up 4.91% today

Ocugen Inc (NASDAQ: OCGN)– Up 3.23% today

Koss Company (NASDAQ: KOSS)– Up 29.48% today

Sundial Growers Inc (NASDAQ: SNDL)– Up 10.01% today

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Why Is ContextLogic (DREAM) Stock Down Today?

If it had not currently, it now seems clear that the meme-stock mania capitalists saw over a year ago is totally over. For investors in ContextLogic (NASDAQ: WISH) as well as WISH stock at the very least, the price action of late has actually told that tale.

Wish, a ContextLogic business an around the world on the internet buying application.
Source: sdx15/ Shutterstock.com
After hitting a top of greater than $32 per share previously last year, WISH stock has since decreased to $1.65 per share at the time of this writing. Today’s descending action of around 6% is just the most up to date in an absolute beatdown of this retail capitalist fave.

Financiers had actually previously jumped on ContextLogic as a special shopping business with the capability to potentially take on some huge leviathans in the area. Indeed, with an appraisal of only $1.1 billion currently, WISH stock had actually seemed like a good wager. Taking into consideration just how fast various other e-commerce players have run, it makes good sense.

Nevertheless, ContextLogic’s company model is a bit different from various other companies. This firm connects customers with sellers directly, attending to an extra smooth purchase procedure for inexpensive products. That claimed, as inflation has raged on as well as low-cost items have been repriced higher (along with rising delivery expenses), ContextLogic’s service version isn’t as attractive as it once was.

On top of that, there happens to be yet one more bearish company-specific stimulant dragging WISH stock down today. So, allow’s study what financiers are enjoying with WISH now.

Bearish Expert Belief Driving WISH Stock Lower
Today, expert Kunal Madhukar at UBS gave a reduced rate target for WISH stock. While UBS did maintain its neutral rating, it lowered its cost target to $2 per share. Previously, the target had actually stood at $4.

Overall, downgrades are never great for a given stock. Capitalists of all red stripes tend to take notice of expert rankings for a reason. These seasoned analysts design out expectations for a provided business, offering their take on its leads over the next year. What’s even more, while several do think about analyst reports to be lagging indications of market view and also price activity, there is intrinsic value in what analysts need to claim.

Significantly, this is the 2nd such downgrade from UBS over the past 3 months. There are some purchase scores and also impressive rate targets for ContextLogic. However, overall, analysts seem taking a bearish view of WISH now. As necessary, till this view shifts, the market appears to home siding with them.