Why WISH Is Trading Higher Today

ContextLogic Inc WISH has many retail traders wishing that shares will continue to climb.

Last week a New York City law firm, Pomerantz LLP, announced it's investigating claims into ContextLogic regarding securities fraud or other unlawful business practices.

So why are shares trading higher today? Prominent retail investors, such as "Mr. Zack Morris" on Twitter, have tweeted about ContextLogic Inc, adding extra attention to the stock for many smaller traders. Over the weekend, ContextLogic was one of the most-mentioned tickers on Reddit’s r/WallStreetBets.

Morris gave an aggressive price target of $69.00, while more conservative traders have placed a price target around $20.00.

Technical Analysis: ContextLogic is showing signs of technical strength. As TrendSpider’s Jake Wujastyk pointed out, the chart is poised for a strong breakout.

Other traders such as Mitch Hennessey of the "Pennies Going In Raw" podcast, said he expects the stock to go to $20 after consolidating at its current level.

The stock is up 3% to $14.46 at publication time.