The stock price of ContextLogic Inc (NASDAQ:WISH) boosted by 9.39% today. There are no company-specific news reports or regulative filings that appear to be driving up the price so it feels like external elements are at play.

Particularly, the Wish Stock Buy or Sell price boosts seem driven by a wider rally in the supposed “meme stocks.” As well as information from Quiver Quantitative recommends that there has actually been a surge in discussions about meme stocks on different social networks platforms. Plus, there has been an uptick in out-of-the-money telephone call buying for the meme stocks, triggering a gamma capture and driving up the cost.

Other “meme stocks” that have actually seen an enter cost today consist of:

GameStop Corp. (NYSE: GME)– Up 30.86% today

Bed Bath & Beyond Inc. (NASDAQ: BBBY)– Up 2.26% today

AMC Amusement Holdings Inc (NYSE: AMC)– Up 15.02% today

Express, Inc. (NYSE: EXPR)– Up 9.73% today

Clover Wellness Investments Corp (NASDAQ: CLOV)– Up 3.5% today

BlackBerry Ltd (NYSE: BB)– Up 4.91% today

Ocugen Inc (NASDAQ: OCGN)– Up 3.23% today

Koss Firm (NASDAQ: KOSS)– Up 29.48% today

Sundial Growers Inc (NASDAQ: SNDL)– Up 10.01% today

Why Is ContextLogic (DREAM) Stock Down Today?

If it had not currently, it currently seems clear that the meme-stock mania financiers saw over a year back is completely over. For financiers in ContextLogic (NASDAQ: WISH) and WISH stock at least, the cost action of late has actually informed that story.

Wish, a ContextLogic business a globally on the internet purchasing application.
Resource: sdx15/
After hitting a top of greater than $32 per share previously last year, WISH stock has because declined to $1.65 per share at the time of this writing. Today’s downward move of around 6% is merely the most recent in an outright beatdown of this retail investor fave.

Financiers had actually previously jumped on ContextLogic as an unique e-commerce firm with the capability to possibly take on some enormous leviathans in the space. Indeed, with an appraisal of just $1.1 billion currently, WISH stock had actually appeared like a decent gamble. Taking into consideration just how fast various other shopping players have actually run, it makes sense.

Nonetheless, ContextLogic’s business version is a bit different from other suppliers. This business connects customers with vendors directly, attending to a much more smooth acquisition process for inexpensive products. That stated, as inflation has surged on as well as inexpensive products have been repriced higher (along with surging shipping expenses), ContextLogic’s service model isn’t as appealing as it as soon as was.

On top of that, there occurs to be yet one more bearish company-specific catalyst dragging WISH stock down today. So, allow’s study what investors are watching with WISH currently.

Bearish Expert Sentiment Driving WISH Stock Lower
Today, expert Kunal Madhukar at UBS offered a reduced cost target for WISH stock. While UBS did keep its neutral rating, it decreased its cost target to $2 per share. Previously, the target had stood at $4.

Generally, downgrades are never ever good for a given stock. Capitalists of all red stripes have a tendency to focus on analyst scores for a reason. These skilled experts design out expectations for a provided company, supplying their take on its prospects over the next year. What’s even more, while several do take into consideration expert reports to be lagging indicators of market sentiment and also price activity, there is inherent worth in what analysts need to claim.

Significantly, this is the 2nd such downgrade from UBS over the past 3 months. There are some acquire ratings as well as excellent rate targets for ContextLogic. Nonetheless, on the whole, analysts appear to be taking a bearish sight of WISH right now. Accordingly, until this view changes, the market shows up to exterior siding with them.