ContextLogic rallies after Citron calls ‘most assymetrical opportunity’

Andrew Left’s Citron Research said via Twitter, "1/ We were reluctant to mention $WISH until we saw the Super Bowl. The $Wish business model seemed terminal….and then everything changed!!! It has now become the most assymetrical opportunity in the market. 2/ Temu just had 2 Super Bowl ads and has recently been the #1 download app on the Apple platform. The world has been reintroduced to the surprise discovery e-commerce model and it is being acceptted. $PDD has done their homework which now finnally puts $WISH in play. 3/ $WISH is the exact same business at Temu yet trades at a NEGATIVE $450 mil enterprise market cap. With $832M in cash as of Q3, no debt,, and an untapped $280M credit line, $WISH likely has multiple years of liquidity available. 4/ This is the same business as Temu, with equal prodcuts and distribution. $WISH’s new management is a team of former $AMZN $GOOG and $BABA execs that seem hard to bet agasint considering the companys coiled spring postion.5/ New management has made many recent changes to the platform. Watch this video to understand. Earnings are next week and we believe the turn has come. Citron will soon release a short report with the relevant charts that company has been showing investors.