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Sentiment on Stocktwits ended ‘neutral’ on Wednesday compared to ‘bearish’ a day ago.
Shares of ContextLogic Inc. (LOGC) slipped nearly 1% in after-hours trade on Wednesday following the company’s fourth-quarter earnings, with retail sentiment turning cautious.
The company reported a loss per share of $0.08 in Q4, compared to an estimated $0.04.
ContextLogic continues to streamline its administrative structure as it focuses on achieving its strategy both organically and through acquisitions, said the company. ContextLogic, which sold its operating assets and liabilities in April, is focused on acquiring and building operating businesses and doesn’t have revenues.
Its recent investment by BC Partners was an important milestone in that effort, it noted. In February, ContextLogic announced a strategic deal with BC Partners, an alternative investment manager with EUR 40 billion ($41.5 billion) in assets under management. Under the deal, BC Partners planned to buy up to $150 million of convertible preferred units, a newly-formed Delaware limited liability company and a wholly-owned subsidiary of the company.
During the three months ended Dec. 31, 2024, ContextLogic incurred $4 million of general and administrative expenses primarily related to legal expenses.
“We are very pleased with how far the company has come and look forward to working with Ted Goldthorpe and Mark Ward, our new directors from the world class team at BC Partners, as we embark on the next stage of ContextLogic’s evolution,” said Rishi Bajaj, CEO and director of ContextLogic.
Sentiment on Stocktwits ended ‘neutral’ on Wednesday compared to ‘bearish’ a day ago. Message volume climbed to ‘normal’ from ‘low.’
One bullish watcher predicted the company’s stock would only go up from here.
ContextLogic’s board is focused on “identifying, evaluating and potentially executing strategic opportunities for the benefit of ContextLogic and its stockholders,” said the company.
The company formerly operated the Wish e-commerce platform, which it sold to Qoo10, an e-commerce platform operating localized online marketplaces in Asia, for approximately $173 million in cash.
ContextLogic stock is up 0.14% year-to-date.
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