Why ContextLogic Stock Rocketed Higher This Week
Shares of ContextLogic (NASDAQ: WISH) shot up as much as 31.3% this week, according to data from S&P Global Market Intelligence. The company, which runs the Wish e-commerce website, was upgraded as a buy from Citron Research, the well-known short-selling group.
As of this writing, shares are up 18.8% so far this week. However, the stock is still down 97% since going public in late 2020.
Citron Research is an analyst group that has been covering stocks for almost two decades. It has a great track record of exposing fraud at companies and is not afraid to get into public conflict over their ideas. However, recently it posted a bullish note on ContextLogic by way of a Twitter thread, saying that it has become an "asymmetrical" opportunity.
Source Fool.com
