San Diego, CA -- (SBWIRE) -- 08/17/2023 -- An investigation was announced for investors of ContextLogic Inc. (NASDAQ: WISH) shares over potential securities laws violations by ContextLogic Inc.

Investors who purchased shares of ContextLogic Inc. (NASDAQ: WISH), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by ContextLogic Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based ContextLogic Inc. operates as a mobile ecommerce company in Europe, North America, South America, and internationally. ContextLogic Inc. reported that its annual Total Revenue declined from over $2.08 billion in 2021 to $571 million in 2022, and that its Net Loss increased from $361 million in 2021 to $384 million in 2022.

On June 29, 2023, Loop Capital ("Loop") downgraded ContextLogic to "Sell" from "Hold", noting that ContextLogic has consistently missed consensus revenue estimates and concluding that the Company faces difficulty protecting its market share from larger rivals. Then on August 3, 2023, the Company reported second quarter 2023 financial results, revenues were $78 million a decrease of (-41.8% Y/Y) missing estimates by $16.25 million.

Shares of ContextLogic Inc. (NASDAQ: WISH) declined from $13.38 per share on April 03, 2023, to as low as $5.85 per share on August 07, 2023.

Those who purchased shares of ContextLogic Inc. (NASDAQ: WISH) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.