WISH Stock: What Momentum Investors Wish To See

TheStreet2021-10-24

WISH stock spiked nearly 10% in the past three days. Without company-specific news to properly justify positive momentum, the stock’s popularity may have been the catalyst. After trading poorly in the...

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精彩评论

Stchua
2021-10-25
Stchua
[Smile]
ASMH
2021-10-25
ASMH
Like
Andersonkana
2021-10-25
Andersonkana
好
claratan
2021-10-25
claratan
Wow 👏 😮
Tf
2021-10-25
Tf
Like and comment, please
- IsleofSkye:
  Done
El_Nino
2021-10-25
El_Nino
Like pls

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Without company-specific news to properly justify positive momentum, the stock’s popularity may have been the catalyst.\nAfter trading poorly in the...</p>\n\n<a href=\"https://www.thestreet.com/memestocks/other-memes/wish-stock-what-momentum-investors-wish-to-see\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.thestreet.com/memestocks/other-memes/wish-stock-what-momentum-investors-wish-to-see","article_id":"1111559375","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1111559375","pubTimestamp":1635038026,"sourceInfo":null,"weMediaInfo":null,"summary":"WISH stock spiked nearly 10% in the past three days. Without company-specific news to properly justi","collect":0,"end_time":0,"defaultTopTitle":"thestreet.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"希望股票：投资者希望看到的势头","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WISH":0.9},"content_text":"WISH stock spiked nearly 10% in the past three days. Without company-specific news to properly justify positive momentum, the stock’s popularity may have been the catalyst.\nAfter trading poorly in the past few months, ContextLogic stock found its way higher again. On October 20 alone, shares were up 14%. Meanwhile, the ticker saw overwhelming volume of comments on Reddit, which may help to justify bullish market action.\nFigure 1: Wish logo on a box.\nAs we mentioned in previous articles, and while the stock remains near all-time lows, momentum investors might still not be too late for the party.\nExposure may have done the trick\nA likely culprit behind WISH’s brief rally was the stock’s popularity online pushing demand for shares higher. The ticker received 150% more mentions and a whopping 35,000 upvotes – understanding that correlation between comments and upticks in share price does not necessarily indicate causation. See below the top trending stocks on Reddit on October 21.\nFigure 2: Trending stocks on Reddit on October 21.\nAnother popularity tracker(see below) suggests that, in the last three months, WISH's popularity remained consistently high. However, share price had not necessarily been moving in lockstep with exposure on the discussion boards until recently. Still, it is not at all surprising that a jolt in stock price could soon follow.\nFigure 3: WISH stock sentiment on the WSB forum.\nThe correlation between online popularity and WISH’s recent performance is consistent with the SEC’s recently released report on GameStop’s trading frenzy. The rallies seen earlier in 2021 have been primarily attributed to an increase in engagement by retail investors, enabled by platforms like Reddit. The same report also questioned the hypothesis that short covering had much to do with the massive increases in share price.\nDip buying\nThis week’s bullish attack may have also been motivated by Wish stock being so close to its all-time lows. Growth in the e-commerce space has been pressured by the “beginning of the end” of the pandemic and stay-at-home tailwinds. Also, several Wall Street experts have downgraded WISH following Q2 results, undermining positive sentiment.\nThe above seems to have created a bearish wave. WISH has elevated short interest, at almost 25% of the float. Such high ratio can put short sellers in a vulnerable position: an increase in trading volume coupled with overbidding can force some to close their positions, kickstarting a snowball effect.\nExperts see upside\nLastly, Wall Street currently assigns a consensus price target of $9.06 to Wish stock, signaling impressive 55% upside potential from the current sub-$6 levels. Despite an average neutral rating, even the more skeptical analysts still see gains ahead.\nCredit Suisse’s Stephen Ju reduced his price target from $24 to $19. He adjusted projections lower after ContexLogic missed Q2 revenue and adjusted EBITDA estimates due to lower customer retention and declining usage rates. However, the analyst still sees massive upside potential of nearly 200% ahead.\nCitigroup’s Nicholas Jones is not as bullish. He has a neutral rating on the stock but forecasts $7.50 on the horizon, for 23% upside potential. Q2 earnings were cited as the key reason for a price target reduction. Mr. Jones also attributed poor stock performance to the company’s difficulty in sustaining growth, especially due to higher-than-expected user churn and ad rates.\nOn the bearish side, JPMorgan and Oppenheimer have a sell rating on the stock and $4 to $5 share price target.According to the former, decline in user activity due to the reopening of the economy, alongside Wish’s retention and rising ad costs, are the main 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pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/858435093","repostId":1111559375,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":514,"commentSize":63,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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