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Shares of Wish parent ContextLogic (NASDAQ: WISH ) dived more than 20% on Tuesday after the firm announced plans for a 1-for-30 reverse split. Now, the e-commerce firm is seeing its value sink another 18% today.
ContextLogic, doing business as Wish, shares tumbled on Wednesday after the company announced a 1-for-30 reverse stock split of its Class A common stock. The eCommerce platform said in a statement that the move allows it to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Global Select Market.
It hasn't been a good day for ContextLogic (NASDAQ: WISH ). Earlier today, the e-commerce platform announced that it would be effectuating a 1-for-30 reverse stock split.
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ContextLogic Inc said on Tuesday that France had lifted the ban on its e-commerce marketplace, Wish, after it was delisted from search engines and app stores over concerns about product safety.
SAN FRANCISCO, March 06, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world's largest mobile ecommerce platforms, today announced that its management team plans to participate in the Loop Capital Markets 2023 Virtual Investor Conference on Monday, March 13, 2023.
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The e-commerce underdog still faces an existential crisis.
SAN FRANCISCO, Feb. 27, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world's largest mobile ecommerce platforms, today announced that its management team plans to participate in the following investor conferences in March: