Wish parent ContextLogic plunges 29% after missing quarterly sales forecasts and getting a double-downgrade from JPMorgan

Wish.com
ContextLogic shares tanked as much as 29% on Friday after second-quarter financial results fell short of expectations.
The Wish e-commerce platform operator's revenue of $656 million was below the $723 million expected by analysts.
JPMorgan gave the stock a rare double-downgrade, cut its rating to underweight from overweight.
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Wish.com parent ContextLogic tumbled as much as 29% on Friday after turned in second-quarter sales and a per-share los