Mobile e-commerce company ContextLogic Inc. (WISH) has declined 75.8% in price year-to-date and 85.8% over the past year to close the last trading session at $0.75. The stock is trading 87.6% below the 52-week high of $6.07, which it hit on October 21, 2021.
With inflation remaining persistently high and the Fed reiterating its hawkish stance, the economy is expected to enter a recession by the start of next year. This is expected to affect consumer spending significantly in the upcoming months, further straining WISH’s financials.
