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Contextlogic Inc   (WISH)
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Price: $6.8950 $0.05 0.657%
Day's High: $6.95 Week Perf: 9.97 %
Day's Low: $ 6.59 30 Day Perf: 54.25 %
Volume (M): 896 52 Wk High: $ 10.30
Volume (M$): $ 6,177 52 Wk Avg: $5.22
Open: $6.64 52 Wk Low: $0.31



 Market Capitalization (Millions $) 165
 Shares Outstanding (Millions) 24
 Employees -
 Revenues (TTM) (Millions $) 357
 Net Income (TTM) (Millions $) -359
 Cash Flow (TTM) (Millions $) -284
 Capital Exp. (TTM) (Millions $) 3

Contextlogic Inc
Wright Investors’ Service Holdings, Inc. was incorporated on March 10, 1998 as a wholly-owned subsidiary of GP Strategies Corporation (“GP Strategies”) and in November 2004, the Company’s common stock was spun-off to holders of record of GP Strategies common stock and GP Strategies Class B capital stock. The Company’s common stock is quoted on the OTC Bulletin Board and is traded under the symbol “WISH”.

Historically, the Company owned a home improvement distribution business through its then wholly-owned subsidiary Five Star Products, Inc. (“Five Star Products”). The Company with a substantial portion of its assets consisting of cash and cash equivalents, also owned, and continues to own, certain non-strategic assets, primarily consisting of certain real estate. (each as described herein).

Our Board of Directors is considering strategic uses for the Five Star Sale proceeds including, without limitation, using such funds, together with other funds of the Company, to develop or acquire interests in one or more operating businesses. While we have focused our development or acquisition efforts on sectors in which our management has expertise, we do not wish to limit ourselves to, or to foreclose any opportunities in, any particular industry or sector.

On December 19, 2012, (the “Closing Date’) the Company, completed the merger (the “Merger”) of a wholly-owned subsidiary of the Company (“MergerSub”) with and into The Winthrop Corporation, a Connecticut corporation (“Winthrop”), pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”) dated June 18, 2012. As more fully described below, substantially all of the Company’s business operations are carried out through Winthrop and its subsidiaries, the Wright Companies.

Prior to this use, the Five Star Sale proceeds have been, and we anticipate will continue to be, invested in high-grade, short-term investments (such as cash and cash equivalents) consistent with the preservation of principal, maintenance of liquidity and avoidance of speculation, until such time as we need to utilize such funds, or any portion thereof, for the purposes described above. We have not distributed, and do not anticipate distributing, the proceeds of the Five Star Sale to our stockholders.

Winthrop, through its wholly-owned subsidiaries Wright Investors’ Service, Inc. (“Wright”), Wright Investors’ Service Distributors, Inc. (“WISDI”) and Wright’s wholly-owned subsidiary, Wright Private Asset Management, LLC (“WPAM”) (collectively, the “Wright Companies”), offers investment management services, financial advisory services and investment research to large and small investors, both taxable and tax exempt. For more than 50 years, the Wright Companies have assisted institutions, plan sponsors, bank trust departments, trust companies and individual investors in achieving their financial objectives. The management approach is to invest assets prudently by balancing risk and return.

 



   Company Address: One Sansome Street 33rd Floor San Francisco 94104 CA
   Company Phone Number: 432-7323   Stock Exchange / Ticker: NASDAQ WISH
   WISH is expected to report next financial results on February 26, 2024.


   

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Management Announcement

ContextLogic's Restructuring Journey: Selling Wish Assets to Qoo10 for $173 Million Amidst Cumulative Net Losses

Published Mon, Feb 12 2024 1:00 PM UTC

ContextLogic Enters Agreement to Sell Wish Assets to Qoo10 for $173 Million Cash Amidst Cumulative Net Losses
ContextLogic, the parent company of e-commerce platform Wish, has recently announced an agreement to sell a significant portion of its operating assets and liabilities associated with Wish to Qoo10. The deal, valued at $173 million in cash, reflects ContextLogic...

Contextlogic Inc

Contextlogic Inc Faces Devastating Financial Blow in Q3 2023 - Can Wish Bounce Back?



Contextlogic Inc, the parent company of Wish, had a rough ride during its most recent fiscal period. The company reported a significant decline in revenue and a widened net loss per share compared to the same reporting period a year ago. Subsequently, net deficit also increased, reflecting challenges faced by Contextlogic Inc. However, in a surprising turn of events, the company's shares have seen a significant increase over the past week and year-to-date, highlighting the mixed sentiments surrounding this e-commerce giant. Let's examine these financial results in a broader context.
Revenue Decline and Widened Net Loss
During the most recent fiscal period, Contextlogic Inc witnessed a drastic 52% decline in revenue, reaching $60 million, compared to the same period a year ago. This downturn shows the company's struggle to maintain its growth trajectory. Furthermore, the net loss per share ballooned to $-3.35, compared to $-3.38 in the prior reporting period, marking a growth in loss per share. This highlights the uphill battle the company is currently facing to improve its financial position.

Contextlogic Inc

Shocking Financial Tsunami Hits WISH as Revenues Plunge in the Second Quarter of 2023

In the fiscal second quarter of 2023, Contextlogic Inc, commonly referred to as WISH, experienced significant losses. The company reported a loss of $3.38 per share, which is a sharp increase compared to the loss of $0.13 per share in the same quarter the previous year. However, there is some positive news to be observed as well, as the company's earnings per share (EPS) improved from -$3.83 per share in the preceding quarter.
Unfortunately, the company's revenue took a hit during this period. It faded by 41.791% to $78.00 million, a notable decrease from the $134.00 million reported in the similar quarter a year ago. Additionally, sequentially, the revenue fell by 18.75% from $96.00 million.

Contextlogic Inc

Contextlogic Inc's Deficit Intensifies Further in Recent Fiscal Period, Sending Investors into Panic

Contextlogic Inc, the parent company of online shopping platform, Wish, recently released disappointing financial results for their most recent fiscal period, sending investors into a frenzy. The company reported a staggering loss per share of $-3.83, a significant increase from the previous year's loss of $-0.09 per share. This demonstrates a significant decline in profitability for the company and serves as a red flag for investors.
Moreover, the company's revenue for the most recent fiscal period took a nosedive, decreasing by a whopping -49.206% to $96.00 million, compared to $189.00 million in the corresponding quarter of the previous year. The sequential drop in revenue was still significant, falling by -21.951% from $123.00 million in the prior quarter. It is noteworthy that this drastic drop in revenue indicates that the company is losing market share and struggling to compete with its rivals.






 

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