$ContextLogic Inc.(WISH)$ Helfstein pulled down the rating on ContextLogic’s stock to Sell from Hold and set a price target of $4.00. This implies 17.5% downside potential to current levels.The five-star analyst predicts that the company is facing a "perfect storm of negative challenges" over the coming months. He remained concerned about the rapidly rising shipping costs and a decline in user retention rates. Furthermore, he stated that “with ad budgets shifting to Android, digital ad costs have remained elevated throughout 3Q, impacting customer acquisition/retention."
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