ContextLogic shares are trading lower after Loop Capital downgraded the stock from Hold to Sell and announced a $7 price target.
Portfolio Pulse from Benzinga Newsdesk
Loop Capital has downgraded ContextLogic's stock from Hold to Sell and set a price target of $7. This has led to a decrease in ContextLogic's share price.
June 29, 2023 | 5:27 pm
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ContextLogic's stock has been downgraded by Loop Capital, leading to a decrease in share price.
The downgrade of ContextLogic's stock by Loop Capital from Hold to Sell, along with a lower price target, is a negative signal to investors. This is likely to lead to a decrease in demand for the stock, thus lowering its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100