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ContextLogic stock tumbles toward a record low after Oppenheimer analyst turns bearish

·1 min read
ContextLogic stock tumbles toward a record low after Oppenheimer analyst turns bearish
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Shares of ContextLogic Inc. tumbled 8.3% toward a record low in afternoon trading Monday, after Oppenheimer analyst Jason Helfstein said it's time to sell, saying the parent of mobile-focused e-commerce platform Wish is facing a "perfect storm of negative challenges" in the coming months. The stock, which went public in December, is now trading 79.5% below its $24 IPO price. Helstein cut his rating to underperform from perform, as his $4 stock price target is 18.5% below current levels. "China a