Today’s chart for the consumer cyclical firm shows a 14.47% increase. Since the beginning of the year, investors have been paying attention to ContextLogic’s stock. However, the stock has lost 69.63% so far in 2021, and the rise has resumed in October. After a period of market volatility, the firm seeks to recover itself. During pre-market trading this morning, the stock surged as much as 1.81%. The completion of the direct stock offering to institutional investors was one of the key catalysts for the surge this week.
Currently, ContextLogic aims to hold a leading position in Spain as it announces a collaborative project with Spanish Carrier. It works with local Spanish carrier Correos to spread the e-commerce network not only in the US. The platform will be available in the app, consumers will also get access to the information panel. ContextLogic (WISH) connects millions of people across the world in more than 100 countries.