ContextLogic (NASDAQ: WISH), the e-commerce services company that owns the e-commerce platform Wish, went public last December at $24 per share. The market wasn't impressed, however: The stock opened at $22.75, closed at $20.05 on the first day, and is now worth about $8.50.
In its IPO filing, ContextLogic claimed Wish was the "most downloaded global shopping app for each of the last three years," based on Sensor Tower's data, with over 100 million monthly active users (MAUs) in more than 100 countries. It also claimed to differentiate itself from other e-commerce marketplaces with its emphasis on personalized visual browsing instead of traditional searches.
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Source Fool.com