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Search resuls for: "ContextLogic Inc"


8 mentions found


GameStop tumbles, Clover Health rises in 'meme stock' roller coaster
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 7% and Clover Health Investments Corp (CLOV.O) jumped 6.4% in early deals on Thursday, setting the stage for another roller coaster session for stocks favored by small-time investors on social media platforms. Shares of cinema operator AMC Entertainment Holdings Inc (AMC.N) were down 4.1%, while prison operator Geo Group Inc (GEO.N), the latest "meme stock", slumped 8.8%, after surging more than 38% on Wednesday. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Clover Health Investments Corp, Wednesday, ContextLogic Inc, Clean Energy Fuels Corp, AMC Entertainment Holdings Inc, Geo Group Inc, Medicare, AMC, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
Shares of e-commerce firm Wish fall in market debut
  + stars: | 2020-12-16 | by ( Reuters Staff | ) www.reuters.com sentiment -0.62   time to read: +1 min
(Reuters) - Shares of ContextLogic Inc, which does business as Wish, fell more than 5% in their debut on Wednesday after the e-commerce firm raised $1.1 billion in its stock market launch. The company’s shares opened at $22.75 on the Nasdaq, below its initial public offering price of $24 apiece. The debut gives Wish a market value of $13.34 billion. The San Francisco-based bargain shopping app sold 46 million shares at the top end of its targeted range of $22 and $24 per share. The lackluster debut comes after mega IPOs and stellar first-day pops of companies such as Airbnb Inc, DoorDash Inc and SnowFlake Inc.
Persons: Peter Szulczewski, Danny Zhang, Peter Thiel’s, Goldman Sachs, J.P, Morgan Organizations: Reuters, ContextLogic Inc, Nasdaq, Inc, DoorDash Inc, SnowFlake Inc, Yahoo, Fund, GGV, General Atlantic, DST Global, BofA Securities Locations: San Francisco, United States, GGV Capital
Shares of e-commerce firm Wish fall in U.S. market debut
  + stars: | 2020-12-16 | by ( Reuters Staff | ) www.reuters.com sentiment -0.58   time to read: +1 min
(Reuters) - Shares of ContextLogic Inc, which does business as Wish, fell more than 5% in their debut on Wednesday after the e-commerce firm raised $1.1 billion in its U.S. stock market launch. The company’s shares opened at $22.75 on the Nasdaq, below its initial public offering price of $24 apiece. The debut gives Wish a market value of $13.34 billion. The San Francisco-based bargain shopping app sold 46 million shares at the top end of its targeted range of $22 and $24 per share. The lackluster debut comes after mega-IPOs and stellar first-day pops of companies such as Airbnb Inc, DoorDash Inc and SnowFlake Inc.
Persons: Peter Szulczewski, Danny Zhang, Peter Thiel’s, Goldman Sachs, J.P, Morgan Organizations: Reuters, ContextLogic Inc, Nasdaq, Inc, DoorDash Inc, SnowFlake Inc, Yahoo, Fund, GGV, General Atlantic, DST Global, BofA Securities Locations: San Francisco, United States, GGV Capital
Wish Parent ContextLogic Starts Trading Below IPO Price
  + stars: | 2020-12-16 | by ( Dave Sebastian | ) www.wsj.com sentiment -0.99   time to read: +1 min
Shares of the parent company of e-commerce site Wish started trading 5% below their initial-public-offering price in their Wednesday debut, in contrast to sharp gains recorded last week when Airbnb Inc. and DoorDash Inc. came to market. The stock of ContextLogic Inc. opened at $22.75 on Nasdaq, below its IPO price of $24 and placing the company’s value at about $16.2 billion. Under the ticker “WISH,” shares recently traded at $23.28. The IPO generated about $1.1 billion in gross proceeds for the company. The IPO is expected to be among the last of large debuts this year, capping one of the hottest IPO markets in history.
Persons: hasn’t Organizations: Airbnb Inc, DoorDash Inc, ContextLogic Inc, Nasdaq, Amazon.com Inc Locations: San Francisco
E-commerce firm Wish raises $1.1 billion in IPO -source
  + stars: | 2020-12-15 | by ( Chibuike Oguh | ) www.reuters.com sentiment -0.97   time to read: +1 min
(Reuters) -E-commerce firm ContextLogic Inc sold shares in its initial public offering (IPO) on Tuesday at $24 apiece, the top of its target range, to raise $1.1 billion, according to a person familiar with the matter. The IPO gives ContextLogic, which does business as Wish, a market capitalization of $14.1 billion. Wish had planned to sell 46 million shares within a targeted range of $22 and $24 per share. Wish’s IPO comes as the COVID-19 pandemic led to a surge in online shopping from customers complying with stay-at-home orders. Wish reported revenue of $1.7 billion for nine months ended in September, up 32% from $1.3 billion last year.
Persons: Peter Szulczewski, Danny Zhang, Yuri Milner’s, Peter Thiel’s, ” Goldman Sachs Organizations: Reuters, ContextLogic Inc, Inc, DoorDash Inc, SnowFlake Inc, Yahoo, Yuri Milner’s DST Global, Fund, Formation8 Partners, GGV, Atlantic, Nasdaq, BofA Securities Locations: San, Francisco
E-commerce firm Wish raises $1.1 billion in IPO
  + stars: | 2020-12-15 | by ( Chibuike Oguh | ) www.reuters.com sentiment -0.92   time to read: +1 min
REUTERS/Shannon Stapleton/File Photo(Reuters) -E-commerce firm ContextLogic Inc sold shares in its initial public offering (IPO) on Tuesday at $24 apiece, the top of its target range, to raise $1.1 billion, the company said in a statement. The IPO gives ContextLogic, which does business as Wish, a market capitalization of $14.1 billion. Wish had planned to sell 46 million shares within a targeted range of $22 and $24 per share. Wish’s IPO comes as the COVID-19 pandemic led to a surge in online shopping from customers complying with stay-at-home orders. Wish reported revenue of $1.7 billion for nine months ended in September, up 32% from $1.3 billion last year.
Persons: Shannon Stapleton, Peter Szulczewski, Danny Zhang, Yuri Milner’s, Peter Thiel’s, ” Goldman Sachs Organizations: Nasdaq, REUTERS, ContextLogic Inc, Inc, DoorDash Inc, SnowFlake Inc, Yahoo, Yuri Milner’s DST Global, Fund, Formation8 Partners, GGV, Atlantic, BofA Securities Locations: Manhattan, New York City, U.S, San, Francisco
Capital markets lawyers said their pipelines of work will probably keep them busy until 2021, but investor enthusiasm for newly public companies has some observers worried. Law firms' big clients, especially in sectors like hospitality and airlines, spent months this spring in crisis mode and focusing on survival instead of growth. Wall Street stalwarts like Davis Polk & Wardwell, Skadden Arps Slate Meagher & Flom, and Kirkland & Ellis have also been busy with IPO work. Those numbers are according to the companies' IPO paperwork, and the final number the law firms see could look different. The firm in November advised therapeutics development company Galecto on its $85 million IPO and recently represented underwriters in SQZ Biotechnology's $81 million public offering and Opthea's $128.2 million public offering.
Persons: Dave Peinsipp, Cooley, Latham, Watkins, Simpson Thacher, Bartlett, Richard Fenyes, Simpson, Fenyes, Read, Goldman Sachs, Goodwin Procter, Wilson Sonsini Goodrich, Davis Polk, Slate Meagher, Ellis, Wilson Sonsini, Goodwin, financials, Latham & Watkins, Troutman Pepper Hamilton Sanders, Blake Cassels, Graydon, Yasin Keshvargar, Wilson, Mitchell Bloom, Bloom, Simpson Thather, they've, Ellenoff Grossman, Schole, Uber, Tesla, Roblox, John Coffee, IPOs, Here's what's, Keshvargar Organizations: Capital, Cooley, Rackspace Technologies, underwriters, Law, Companies, Bloomberg, Zoominfo, Warner Music Group, Norwegian Cruise, Holdings, Wall, Kirkland, Renaissance Capital, ContextLogic Inc, Molecular Therapeutics, Latham &, Therapeutics, ALX Oncology, Blockbuster, Tech, Apple, Gilead Sciences, Street, Affirm's underwriters, Roblox's underwriters, Columbia Law School, The Securities, Exchange Commission, Unity Software, Gaming Locations: Delta, Norwegian, Silicon Valley, Boston, Canadian, German, Davis, SQZ, Kirkland
Capital markets lawyers said their pipelines of work will probably keep them busy until 2021, but investor enthusiasm for newly public companies has some observers worried. Law firms' big clients, especially in sectors like hospitality and airlines, spent months this spring in crisis mode and focusing on survival instead of growth. Wall Street stalwarts like Davis Polk & Wardwell, Skadden Arps Slate Meagher & Flom, and Kirkland & Ellis have also been busy with IPO work. Those numbers are according to the companies' IPO paperwork, and the final number the law firms see could look different. The firm in November advised therapeutics development company Galecto on its $85 million IPO and recently represented underwriters in SQZ Biotechnology's $81 million public offering and Opthea's $128.2 million public offering.
Persons: Dave Peinsipp, Cooley, Latham, Watkins, Simpson Thacher, Bartlett, Richard Fenyes, Simpson, Fenyes, Read, Goldman Sachs, Goodwin Procter, Wilson Sonsini Goodrich, Davis Polk, Slate Meagher, Ellis, Simpson Thatcher, Wilson Sonsini, Goodwin, financials, Latham & Watkins, Troutman Pepper Hamilton Sanders, Blake Cassels, Graydon, Yasin Keshvargar, Wilson, Mitchell Bloom, Bloom, Fayes, they've, Ellenoff Grossman, Schole, Uber, Tesla, Roblox, John Coffee, IPOs, Here's what's, Keshvargar Organizations: Capital, Cooley, Rackspace Technologies, underwriters, Law, Companies, Bloomberg, Zoominfo, Warner Music Group, Norwegian Cruise, Holdings, Wall, Kirkland, Renaissance Capital, ContextLogic Inc, Molecular Therapeutics, Latham &, Therapeutics, ALX Oncology, Blockbuster, Tech, Apple, Gilead Sciences, Street, Affirm's underwriters, Roblox's underwriters, Columbia Law School, The Securities, Exchange Commission, Unity Software, Gaming Locations: Delta, Norwegian, Silicon Valley, Boston, Canadian, German, Davis, SQZ, Kirkland
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