Forget AMC and Gamestop: 10 New Stocks Reddit’s WallStreetBets Is Buying

8. ContextLogic Inc. (NASDAQ:WISH)

Share Price Performance Since July 2021 Start: -98.34%

Number of Hedge Fund Investors In Q1 2024: 11

ContextLogic Inc. (NASDAQ:WISH) is an eCommerce company based in California. It was one of the hottest eCommerce companies in 2019 after becoming one of America’s largest companies of its kind. However, ContextLogic Inc. (NASDAQ:WISH) has struggled on the financial and reputational fronts since then. Starting from the latter, the firm faced a major setback in 2021 after Google delisted its platform in France. This came a year after multiple reports revealed that ContextLogic Inc. (NASDAQ:WISH) was selling unsafe or illegal products on its platform. These troubles weren’t helped by lackluster financial performance and legal troubles. ContextLogic Inc. (NASDAQ:WISH) has faced multiple lawsuits, ranging from those targeting alleged counterfeit products to those that allege that the firm misguided investors and overstated financial metrics. ContextLogic Inc. (NASDAQ:WISH) is yet to turn a profit, and the stock tumbled by double digit percentages in 2023 after it missed analyst estimates for its first and second quarter earnings. The firm’s main eCommerce platform, Wish, was sold to a Singaporean company for $173 million in 2024.