WISH ContextLogic accumulation area

WISH had an IPO price in 2020 of $24 and now the price dropped to 7.55usd.

ContextLogic Inc. (WISH) financial results or why it went down:

The good:
Revenue per Active Buyer was $22, an increase of 21% year-over-year
ProductBoost revenue increased 11% year-over-year to $50 million
Logistics revenue in the second quarter was $228 million, or a 126% year-over-year increase.

The bad:
Marketplace revenue decreased 32% year-over-year to $378 million in Q2
Buyers during the quarter declined 44% year-over-year to 17 million
Monthly active users declined 22% year-over-year to 90 million
Active buyers decreased 26% year-over-year to 52 million
Cost of revenue for the second quarter of 2021 was $272 million, a 31% year-over-year increase
Q2 gross profit was $384 million, down 22 percent year-over-year.

On 8/13/2021 Analyst Stephen Ju from Credit Suisse Group Lower Price Target for WISH from $24.00 to $19.00