This is trading as if it's some small cap biotech stock or something or even filing for bankruptcy. Even the p0s like Jumia got a 85% haircut from the peak to start reversing and Wish has finally gotten 85% haircut too. How is it that Jumia can only get 85% haircut meanwhile Wish is on its way to get 90% shedding? Wish brings in 1.5 billions per year in revenue and generates so much business.
“At this time, we will not be providing our usual quarterly revenue outlook as we are focused squarely on execution and efficient expense management. To provide some context, quarter-to-date total revenue through July 2021 was down approximately 40% compared with the prior quarter, while Marketplace revenue was down approximately 55% compared to the same period. With the pullback in digital ad spending, we expect third quarter revenue to decline further. As a result, we expect third quarter adjusted EBITDA loss in the range of $70 million to $65 million. “$ContextLogic Inc.(WISH)$
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