Why WISH insiders are selling shares?

If you’re an investor who owns shares in ContextLogic Inc. (WISH), you should pay attention to what the insiders are doing with their shares. Every month, the number of insider sell transactions in WISH increases. There isn’t even one buy transaction made between the insiders transactions. Is it possible that the insiders know something about WISH that we don’t?

WISH went public on December 16, 2020 at $22.75 per share, below its IPO pricing of $24 per share. The stock has lost some $8.5 billion in market value since its debut, and is now trading at around $4.00 per share, a plunge of more than 80 percent. This is a pretty steep decline for a company that was valued at over $11 billion when it went public last year. The company is struggling to become profitable. WISH has been losing money for years and is trying to turn around the company. What makes this situation so interesting is that WISH drop in share price have been accelerated by insider sales. Is there something fishy going on? Continue reading “Why WISH insiders are selling shares?”

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