Chersten AzevedoTop of Form I selected Wish the online shopping company. In

Chersten AzevedoTop of Form
I selected Wish the online shopping company. In December of 2020, their high stock was at 23.80 and stayed steadily between 23.80-20.14 until March 1, 2021. Starting March 2nd until today their stocks began to fall with a slight increase in June 2021, then plummeted down to 7.04 as their high.
My initial thought reviewing their stocks being so high in December was Christmas time as well as the fact COVID kept most people indoors and family and friends in most states were not to intermingle outside their households. The reason the stocks plummeted more towards June was the world starting opening up more and people were allowed to go in person and consumer shop again. I wanted to research if my theory was correct in regard to COVID. I found an article on CNBC online that showcased Wish CEO Peter Szulczewski’s shareholder letter where Szulczewski basically shared that Wish reported a 6.4% drop in quarterly revenue; having a net loss of $111 million and monthly active users dropping 22%.
Wish did infact attribute the re-opning of the world after COVID and people getting vaccinated as the reason the company sales and stocks plummeted.
I do not think that Wish will completely fold as a company. In time people will start shopping more online again right now people are enjoying their freedom of being not cooped up in their homes due to stay at home orders.
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Thomas KingTop of Form
Hello Class,
I have selected Tesla, Inc. (TSLA) and after doing some research on this company, it appears they have had some ups and downs over the last year but, not as much as some other companies, especially during the pandemic. Tesla, Inc. doesn’t appear to have been as affected by the pandemic as much as some other companies as they have stayed pretty successful and even increased in value over the last year. This company’s value have been influenced by certain things that are tweeted by the companies CEO, Elon Musk. He sends out tweets that hint toward things he is doing as well as what the company is doing and in highliy influences the companies stock. About a month or so ago, the company had a fatality that was initially blamed on their self driving car which made the company’s stock drop pretty drastically. It was later determined that the driver of the vehicle was in the passenger seat and rigged the vehicle to drive on it’s own even without anyone in the drivers seat. Once this news was discovered, the company’s stock slowly rose again to a modest amount and has since been pretty steady. According to Yahoo Finance the company is “overvalued” which may or may not be true because when compared to other companies Tesla, Inc. is valued pretty high.
Thanks.
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