ContextLogic rises after Citron Research's optimistic tweet

ContextLogic Holdings

13/02/2023 18:41

** Shares of e-commerce company ContextLogic Inc  WISH.O  up
47.6% at $0.93 
    ** WISH has now become "the most asymmetrical opportunity in
the market," says Citron Research in a tweet 
    ** Citron says with $832 mln in cash as of Q3, no debt, and
an untapped $280 mln credit line, WISH likely has multiple years
of liquidity available
    ** Co is scheduled to report Q4 results on Feb. 23 after
market close
    ** WISH recently announced plans to cut 150 jobs, or 17% of
its global workforce
    ** Stock fell ~84% in 2022
 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))