Clearing Up Info About the WISH IPO "Share-Lock-Up" Release Date
Updated
In an article published June 7th, entitled "ContextLogic Inc. 's (NASDAQ:WISH) Lock-Up Period Set To Expire on June 14th"
MarketBeat told readers incorrectly that "ContextLogic's (NASDAQ:WISH) lock-up period is set to expire on Monday, June 14th.
ContextLogic had issued 46,000,000 shares in its IPO on December 16th. The total size of the offering was $1,104,000,000
based on an initial share price of $24.00. Shares of the company owned by major shareholders and company insiders will
be eligible for trade following the expiration of the lock-up period.
According to the company's 10-K (Annual report) filed (2021-03-25). Those shares were actually released the opening of trading
on the second trading day immediately following our release of earnings for the first quarter of fiscal 2021.
Since First Quarter Earnings were announced May 12, 2021 so shares were released May 25th, 2021.
On 06-09-2021 The stock became the focus of a "Short squeeze" campaign by Wall Street Bets and has continued to be the focus of
attention from investors and option call fans who showed an unusual amount of open interest in both $20 and $30 calls. While there
is some back and forth about whether the stock is actually a good short squeeze candidate, the non-Reddit suits have taken an
interest in the stock because it appears to be undervalued using a number of different value methods.
A "Buy" signal was triggered a few days ago by CryptoFundeManager's
Buy and Sell Perfect Entry V2 Indicator & Confirmation Entry Indicator and despite some heavy profit taking after the recent run-up,
bulls have not let the bears take share prices lower than the 10-Day Moving Average. In fact. the stock was the number one most discussed stock on Wall Street Bets on Thursday and Social Media interest continues on Friday.
WallStreetBets' #Apes and Bulls are expecting the stock to begin ascending on Monday after there appeared to be a triple bottom indication reached during intraday trading the last two sessions.
MarketBeat told readers incorrectly that "ContextLogic's (NASDAQ:WISH) lock-up period is set to expire on Monday, June 14th.
ContextLogic had issued 46,000,000 shares in its IPO on December 16th. The total size of the offering was $1,104,000,000
based on an initial share price of $24.00. Shares of the company owned by major shareholders and company insiders will
be eligible for trade following the expiration of the lock-up period.
According to the company's 10-K (Annual report) filed (2021-03-25). Those shares were actually released the opening of trading
on the second trading day immediately following our release of earnings for the first quarter of fiscal 2021.
Since First Quarter Earnings were announced May 12, 2021 so shares were released May 25th, 2021.
On 06-09-2021 The stock became the focus of a "Short squeeze" campaign by Wall Street Bets and has continued to be the focus of
attention from investors and option call fans who showed an unusual amount of open interest in both $20 and $30 calls. While there
is some back and forth about whether the stock is actually a good short squeeze candidate, the non-Reddit suits have taken an
interest in the stock because it appears to be undervalued using a number of different value methods.
A "Buy" signal was triggered a few days ago by CryptoFundeManager's
Buy and Sell Perfect Entry V2 Indicator & Confirmation Entry Indicator and despite some heavy profit taking after the recent run-up,
bulls have not let the bears take share prices lower than the 10-Day Moving Average. In fact. the stock was the number one most discussed stock on Wall Street Bets on Thursday and Social Media interest continues on Friday.
WallStreetBets' #Apes and Bulls are expecting the stock to begin ascending on Monday after there appeared to be a triple bottom indication reached during intraday trading the last two sessions.
Comment
IPO shares were released May 15th, 2021-- not May 25 as previously noted.Comment
Someone noted that since the IPO Shares were unlocked on May 15, there has been no insider selling- only buying activity.
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