Why ContextLogic Stock Is Trading Higher Today

ContextLogic Inc WISH is trading higher on above-average volume Monday as retail traders continue to favor the stock. 

The average daily volume for the stock is just below 30 million. At publication time, the daily volume was nearing 90 million.

ContextLogic is trending across social media platforms as retail traders discuss lofty price targets. At publication time, it was the one of the top two trending stocks on Stocktwits. 

The e-commerce platform company was also the most mentioned individual stock on the Subreddit r/wallstreetbets over the last 24 hours. 

Related Link: ContextLogic's Stock Squeezes: What Does The Chart Say?

On May 12, ContextLogic reported quarterly revenue of $772 million, which beat the estimate of $743.09 million and represented 75% year-over-year growth.

Price Action: ContextLogic has traded as high as $32.84 and as low as 36 cents since its IPO in December 2020. 

At last check Monday, the stock was up 13.30% at $12.92.

Photo courtesy of ContextLogic.