Today we are talking about Wish stock that dropped over 25% today due to poor earnings. Wish stock is currently at $7.35 a share but was previous trading at $9.90 a share just yesterday. Wish stock did very well during pandemic conditions as was previously trading at $30 a share which from current price points offers over a 300% recovery potential. Now this is why I think Wish stock is a top stock to watch as it trades at all time lows!
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For those who are interested in Trading & Investing, I encourage you to join Our Free Trading Group of over 315,000!
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The Stock Market falling/ crashing can be a scary thing when you are not informed on how to make money during a stock market crash! The corona virus isn't getting any better and opportunity is among us, let's take time to inform ourselves and make the most of this opportunity!
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DISCLAIMER: Please note that i do not ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.any questions to message me as i would love to be a part of your success.
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What's going on team, it's ricky with tackle solutions here with another video on an oversold, cheap stock. All we ever ask you to do is if you like these videos, please make sure you smash that, like button make sure you subscribe to the channel, if you guys haven't done so already and turn on those post notifications, so you get alerted when it is that We either go, live and or upload a new video. The stock that i want to talk about today is wish wish reported earnings yesterday and simply looking at the four hour time frame. You could see what an aggressive pullback this was based off of where it used to trade at right below the estimate line so from where we're at as of right.
Now, if wish were to simply make a recovery, that's about 50 percent. Let's look at the big picture on the day chart you can see how oversold wishes yesterday it made all-time lows at 669 and previous highs was a little bit above 33 dollars a share, so you can see again this isn't. This does not mean that wish has to make a full recovery, but from where we're at right. Now, if it were to make a full recovery, that would be over 300.
But the thing that i'm realistically looking at is if it were just to simply return to previous highs of 13, which it just was at that's over 80 return, which is why i'm talking about wish so first off what caused wish stock to drop 20 well, it Reported earnings yesterday and it missed earning: do you guys could see that it's q2 2021 earnings or earnings per share was missed by three percent and the revenue was missed by nine percent? So what was the catalyst of this well based off of an article? I read and please make sure that you do your own due diligence as well as the e-commerce company says that demand slowed and cost rose more than expected. The thing that i find very interesting is that wish was a company that did exceptionally well during pandemic conditions right and then they decided to go public. You guys could see that they began to trade publicly in the market uh right around early 2021, and the really cool thing about this is that obviously they were coming off of just a great catalyst, which is the pandemic. Because again, a lot of online shopping happened and wish being an online e-commerce platform.
You can only imagine that again, it was peaking demand at that current time, so it made sense on why ipo'd, but ever since then, just like many other e-commerce companies. We've seen this even with the tech giant right amazon, where it peaked during the pandemic and as we transition back to normal demand levels begin to pull on back. So this is what we're seeing as of right now. One of the things that i did read based off of the series of different articles that have been made on wish is that, because of this unfortunate earnings report right being able to see that demand slowed down and that cost rose they use this.
As a learning experience and now they have a better understanding on how to be able to make sense of this to lead to a more successful quarter, which is something that i think looks promising for future investors. But as of right now, asking that magical question is wish a buy right now. One of the things that we have to be very open about is that wish has been pulling on back ever since its peak, its current direction is bearish. It's lower highs and lower lows, so let's not pretend that we can predict the future right. The thing that i find super interesting about wish and the right reason i'm making this video about it, is because of how much upside potential there is, which is great, but guess what we do not have any confirmation just yet. So we are not indicating signs of higher highs or higher lows, or anything like that. It doesn't mean that we can't it just means that we have not and because wish has so much upside margin. This should only encourage us to not force and rush into buying the dip.
I get it if it only had. You know a couple percent, but when it offers 300 in potential recovery, why am i gon na try to aggressively buy the dip with all of my money and hope it randomly begins to recover? Why not play it safe? Why not wait for proper indication of a reversal? Why not wait and have proper intent? So what i'm going to be doing is i want to set effective alerts. It doesn't mean that you have to do the same thing, but one of the things that i want to do is i want to follow up with wish stock when it actually begins to show signs of growth, so i can slowly begin to buy into wish. Therefore, adding more to my position as it begins to indicate signs of recovery because there's so much recovery potential, this should only encourage us to play it more on the conservative side and wait for confirmation, rather than blindly bind the dip when this stock can easily still Sell off one of the things that we always love to share is that, just because a stock is oversold, and just because a stock is cheap, doesn't mean that that makes the buy it just you know, based off of the way that i see it is now.
I just find wish attractive enough to add it to my watch list to set effective alerts, so i follow up with it that when it meets my criteria, i can actually decide to buy. So it's not about buying it now it's about buying when it makes sense. So, let's set alerts on both sides and alert if it breaks above uh that previous resistance level and an alert if it breaks below previous lows. So now i have the best of both worlds.
So if you guys see value and wish feel free to share your thoughts in the comment section make sure to add it to your watch list. If it's something that you want to follow up with and if it's not then again, the whole point of these videos are not for you to agree with every stock that you know should be blindly um invested in. But for you to cherry pick when we're always here to encourage you to do so, for you to cherry pick the stocks that make the most sense to you and to only follow up with the ones that again, you see value in. So i really do appreciate you guys time. I hope that i earned your thumbs up in this video. Please consider subscribing and if you guys haven't done so already, i do upload new videos every single day so feel free uh to check those out. Also, one of the things that i do want to remind you is that we are having a mouse pad sale and, if you guys haven't, visited our shop, tech but site, we have one of the best selling trading mouse, pads and aluminum arts. If you guys want to check that out, that's the third link in the description and we do have a promo code for you that will apply at checkout.
All you have to do is visit the website and that promo code should pop up for you guys to get 15 off your entire order and, of course, free shipping with the united states. We will see you for our live trading session on monday at market open and, if you guys want to join us, that's that second link in the description. Until then, like always, let's make sure that we in the year on agree now take it into team.
Opened a position yesterday 200 shares at $6.94. I think I will be fine long term.
I did not think WISH would be a penny stock so easily. That drop hurt.
I finally watch youtube again I use to watch stuff that made me laff
Recovery potential? Umm, it seems like more bagholders wanting to bail on the way up if anything. Imo It’s going to take some time for WISH to have a strong reversal after such a bearish ER. I will say, I do like some of their management (especially Jackie Reses) and hirings of late so I definitely do see a lot of potential. Although it may take a couple of years to prove they are steering the ship in the right direction.
Hi Ricky! Which app would you recommend, such as Webull, but as an alternative. Unfortunately I'm not an US citizen, so I can't open a Webull Account (
I just discovered your videos and I love them.This is probably a dumb question but how will you be alerted when it hits either criteria? Thanks RG!
What constitutes a reversal? I know you want the direction of the stock to break through the EMA or SMA line but what chart do you know to look at? The 1D, 4H, even less? What chart or charts or most important when looking for a reversal?
Man you’re so honest!! I learned a lot from you. I Would always blindly buy the dip and when it dipped further I had no money to invest
sir do you have discord ac in which i get your calls ? or whataspp or telegram ? reply thankyou
Thanks for your efforts with all these comment. Very informative. Have you considered a etoro account so people can copy you of do any of the platform's you use offer a similar facility?
WISH needs to crack down on fraudulent and deceptive listings to make it a buy for me.
You know why I don't buy wish they sell crappy products…
I remember wish was selling 90 dollar spray bottles of clorox during the pandemic and cause of that I will probably think twice about buying any thing from wish or trust wish stock.
need it to recover asap undervalued at 7 imo and needs to recover over 15s which would give it a decent share price for such a large company like wish, Also the last er on may 12th wish had dropped 35 percent but in the next 2 weeks filled up the gap up to 15 plus!
It's been a short since May. It's an overvalued stock at $5
You need a more powerful pc setup bra, that fan is screamin
I bought wish for its oversold bounce, it was absolutely a buy at 6.40. I got in at 6.50 and sold at 7.30. Didn't think it was going to 7.45. But that's OK. That was worth $500. I also love my other position which give me daily cash of $500 or more, like btb and sponf. Btb was another wish that tanked to. 74. I also took advantage of that right into todays 1.30. Big money on that one.. Sponf just flew up as you can see from my .015 buy to 0.037. That was a 50,000 play. I play these over and over and over again. I did make a little money on hood too because it was Friday. But only $350, nothing to talk about. I'm not into expensive stocks for that reason, lower priced stocks enable me to spread my capital around more
I tried shopping at Wish but end up going back to Amazon . I had so much faith with this company I bought 113 shares for 20.38 last December. Well…
Excellent. Good job Ricky . One of your best videos. I'll put it my radar.btw, you never answered me. What do you use for ema and sma,? 20,50,100,200?
Yeah I was looking at Wish also. I was leaning towards it but took a stab at PLTR instead. But like you said WISH has been bearish. One that I do like because of your teachings is ticker symbol SOFI. It looks like it was up trending nicely before the earnings report. I think there will be a quicker recovery on SOFI. Thanks for the educational video.
The basic mentality is to buy every possible dip but diversification is the key to this crazy market. Most people pay more attention to the shiniest positions on the graph over a proper diversification. Diversify your funds or get a pro help. After my portfolio performance smashed over $180k returns from the last quarter, I have learned why analysts will talk, stocks will rise and fall but the market will always remain a cash den for people who know where to look.
I would like to see either a weekly reversal or an inside week and then up before I start buying
I would rather ask you to Teach us Supply and Demand Zones better. Without being genuinely knowing where the stock going, we cannot Buy or sell. Wish you Cover that. Add some realistic thing in YouTube as we all know it’s dropping. I am not being mean to You. But genuinely written hoping to get listen as I am subscribed since a long time. Thanks 🙏
Thanks for your video much appreciated could be a falling knife 🔪
Wish business model sucks to be honest. Cost of sales is ever increasing, repeat custom is dropping and customer retention rates are poor and trending in the wrong direction. Until management fixes these fundamentals this is going to remain a short. It has indeed dropped 25% but does that make it a "Buy Now?" Not in my estimation.
Ill look at it in september, after FED has told the public what they will do with tapering and so on. Hopefully they wont do shit and the show can go on but if they do taper, you know this stock will become a literal penny stock within a day. So if you have profit in it, take the profits and relax. No need to panic buy when stuff dips. Especially in this market that doesnt even reward you if you do that
You can never pin point the bottom. Never guess or think you know better than the market. Remember how everyone was excited over trying to get the dip on <insert your favorite stock that took a dump on a random day – and continued down for months….>
Thanks. Also SOC Telemed (TLMD) looks oversold, down -31% today. Next week … UP
This stock is trash, if your going to go chinese stock, BABA still the best bet.
Video title: “BUY NOW”.
Actual video: “Add it to your watch list and buy when the time is right”.
Love your trading strategy and you seem like a genuinely great dude. Keep it up bro.
My thought on WISH is just the uptrend potential, but it is not something I buy. Why? Because it's only six months since WISH came to public. In the meantime, your favorite Peloton got sued today for improperly charging sales tax. I smashed that LIKE for everything!
I dropped my AMC and Dogecoin profits into this. Bought a total of 12,150 shares at $6.96, already up $10k 🔥🔥🙌🏼🙌🏼🙌🏼
Wish stock dropped to lows $6.69 and now trading at $7.50, thats a 10% recovery already. This stock is a bearish stock so please make sure you are aware of its current direction. Wish stock is cheap but that does not mean it can not continue to sell off! Set alerts and lets follow up with it when it makes sense! Trade safe, trade smart!