Time to start Wishing
Updated
My charts are all busted and Wish looks like it's dropping with no bottom in sight as it continues to make new all time lows. At some point value discussions and this market cap being beat up to the point where it becomes an irresistible takeover target should come into play and at these levels I have to imagine we are there. The only glimmer of hope I see chart-wise is the false breakout below the trendline that we saw several weeks back. It looks like we are repeating the same pattern again due to this ongoing correction - which if I'm being honest surprised me at how much it took down Wish.
Good luck to all of those holding long like me, I've averaged my cost down to $6.06 and will not be buying any additional shares until an uptrend is confirmed.
Good luck to all of those holding long like me, I've averaged my cost down to $6.06 and will not be buying any additional shares until an uptrend is confirmed.
Note
This selling is absolutely relentless and I have no explanation for it. Value-wise it makes no sense, we are now trading well under the value of Wish's cash on hand + annual revenue. A good comparison is Pinterest which is currently bringing in about 70% of the annual revenue that Wish does, yet is trading at 13x its book value and 15x its price/sales ratio for a total market cap of 32b. Wish seems like an insane outlier at 3b.Happy to hear anyone elses thoughts on this. So far the market has disagreed with my analysis wholeheartedly.
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