ContextLogic Spikes on Ecommerce Platform Partnership By Investing.com

By Christiana Sciaudone

Investing.com — Meme stock Contextlogic Inc (NASDAQ:WISH) rose 17% after announcing a partnership with PrestaShop.

The ecommerce platform known as Wish, which is akin to an online dollar store, is hooking up with the freemium open source ecommerce platform as part of a two-year deal. More than 300,000 merchants and brands on the PrestaShop platform will be able to sell to millions of consumers on the Wish marketplace. 

Shares are down more than 50% since the company went public in December. It has been a target of short-sellers, which has attracted retail investors making shares periodically spike and subsequently tumble. 

PrestaShop, which is based in Paris, France, said its merchants will have free access to connect to Wish’s merchant dashboard.