ContextLogic (NASDAQ: WISH), the parent company of the e-commerce platform Wish, went public at $24 per share nearly a year ago. On Dec. 3, its shares slumped to an all-time low of $3.15.
Wish's stock tumbled as its growth and active buyers decelerated. However, some contrarian investors might still see some value in the battered stock as it trades at less than its trailing sales.
They'll also likely point out that Wish has been narrowing its losses and rolling out new features -- like shoppable videos and "buy now, pay later" (BNPL) options -- to attract new merchants and shoppers. The stock's short interest is also high, and it might attract some buyout bids.
Source Fool.com