E-commerce and logistics company ContextLogic Inc. (WISH) witnessed immense growth during the COVID-19 pandemic due to a surge in online shopping as consumers stayed at home. However, the company could not sustain its growth with the reopening of the economy and a return to physical shopping.
The e-commerce company had a challenging 2022 amid supply chain disruptions, increasing logistics costs, and deteriorating product quality. WISH stock has declined 81.1% in price over the past year. Also, it has plunged 68.5% over the past six months. The stock is trading 82.6% below the 52-week high of $2.93, which it hit on February 1, 2022.
