ContextLogic Inc. (WISH) brings an entertainment-filled and affordable shopping experience to customers globally. It is the one of largest international e-commerce portfolios, connecting loads of value-conscious customers to approximately half-million merchants. globally. The company merges the technology and data science capacities and a novel discovery-based mobile shopping experience.
The price of WISH stock during the regular trading on March 1, 2022, was $2.27 with a drop of 4.22%. at last check in the aftermarket, the stock dipped further by 6.17%.
WISH: Key Financials
On March 01, 2022, WISH released its unaudited financial outcomes for Q4 2021 ended December 31, 2021. Some of the vital points are discussed below.
Revenue
Revenues in the fourth quarter of 2021 were $289 million compared to $794 million for the same quarter in 2020. The company observed a decrease of 64% in its revenue year-over-year. Also, the company missed the analyst’s revenue expectations of $309.8 million.
EPS
Basic and diluted net loss in Q4 2021 was $58 million or $0.09 per share compared to $569 million or $3.04 per share for the same period of 2020. The company observed a noteworthy increase in its EPS over the year. Also, it topped the EPS estimates of -$0.10.
WISH: Events and Happenings
On February 15, 2022, WISH introduced the Wish Clips, which is a shoppable video feature designed to enhance the consumer’s experience and streamline the purchase path. On February 2, 2022, WISH introduced an ‘invite-only’ merchant choice procedure. The new merchants who want to sign up to sell their products on the company’s marketplace will participate in a multi-step qualification procedure.
On February 1, 2022, WISH reported the award of the grant of inducement to its CEO, Vijay Talwar, as required by Nasdaq Listing Rule. The award was granted under the company’s New Employee Equity Incentive Plan. On December 16, 2021, WISH updated on the partnership with Nasdaq for fixing a co-branded vending machine shopping experience at 4 Times Square.
Conclusion
WISH stock downplayed by 87% in the last year as the pandemic hit the economy hard. The current stock position of the company is not much good as it declined in Tuesday’s aftermarket following the financial statement release. The company topped the EPS estimates but missed the revenue goal.
