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Why ContextLogic Is Tumbling One Day After Roaring 37% Higher

TheMotleyFool

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Easy come, easy go. Yesterday, wish.com website owner ContextLogic (NASDAQ: WISH) shot 37% higher on positive comments about the company made by someone who is typically a short-seller. But the stock was giving back 10% of its gains at 11:22 a.m. Tuesday morning on no company-specific news.

It could just be a case of good ol' profit taking by investors who had lost over 70% of their value from recent highs.

Image source: Getty Images.

Source Fool.com

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