ContextLogic Inc. WISH shares are trading higher Wednesday. The company reported its third-quarter financial results after the close on Tuesday.
What To Know:
ContextLogic reported a loss per share of $3.35, missing the analyst consensus estimate of $3.31 and quarterly sales of $60 million, beating the estimate of $57.35 million.
On Wednesday, Loop Capital analyst Laura Champine upgraded ContextLogic from Sell to Hold and lowered the price target from $6 to $4.
Shares of WISH are up on heavy trading volume as investors digest the earnings report. According to data from Benzinga Pro, more than 3.2 million shares have already been traded in the session, compared to the stock's 100-day average of slightly more than 584 thousand.
ContextLogic shares have attracted the attention of short-sellers with 14.94% of shares being sold short.
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WISH Price Action: According to Benzinga Pro, ContextLogic shares are up 19% at $5.03 at the time of publication.
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