ContextLogic (WISH) began trading on the Nasdaq on Wed 16 Dec 20

• Note May 13, 2024: Class A common stock will begin trading on NASDAQ under the ticker symbol “LOGC”. This will replace the company's current ticker symbol “WISH”, which has been used since its initial public offering in December 2020.

ContextLogic (WISH), the parent company of e-commerce retailer Wish, provides an e-commerce platform that connects primarily China-based merchants with value-conscious customers mostly in Europe and North America.

The San Francisco-based ContextLogic offered 46 million shares at $24, the high end of its estimated price range of $22 to $24. That gave it a fully diluted market valuation near $17 billion.

• Wish stock plunged 16.5%, closing at 20.05.
• The Wish IPO raised $1.1 billion.
• Wish had the worst first day listing of any unicorn to go public in 2020, dropping 17% in the first day of trading prior to a partial recovery to end the week at -2%.

The e-commerce company says it appeals to "value-conscious consumers." It carries products from more than 500,000 merchants, mostly from China, offering some 150 million items. Wish has more than 100 million monthly active users.

Peter Szulczewski, co-founder and CEO of Wish, joins "Squawk on the Street" 

For the nine-month period ended Sept. 30, Wish reported revenue of $1.75 billion, up 33% from the year-ago period. It reported a loss of $120 million vs. a $24 million loss a year ago.

IPOs this week : April 15 - 19, 19

Expected IPO pricings: 

• A big week is on tap for IPO pricings, led by Pinterest (PINS) which has set a pricing target of $15 to $17 to bring in around $1.2B and value the company at around $9B. Pinterest saw revenue jump 60% last year to $756M and is projected to see 45% growth this year to about $1.1B. 
• Other pricing during the week include Palomar (PLMR) and Brainsway (BWAY) on April 16 
• as well as Zoom Video Communications (ZM), Brigham Minerals (MNRL), Turning Point Therapeutics (TPTX) and Hookipa Pharmaceuticals (HOOK) on April 17.

IPO lockup expirations: 

• SI-Bone (NASDAQ:SIBN) on April 15; 
• Osmotica Pharmaceuticals (NASDAQ:OSMT), Studio City (NYSE:MSC) and PhaseBio Pharmaceuticals (NASDAQ:PHAS) on April 16; 
• LogicBio Therapeutics (NASDAQ:LOGC), Niu Technologies (NASDAQ:NIU) and SolarWinds (NYSE:SWI) on April 17.

IPO quiet period expirations: 
Analysts will start buzzing about Levi Strauss (NYSE:LEVI) on April 15. Levi's priced its IPO at $17, above the target range of $14 to $16. Shares closed at $22.22 on Friday. It doesn't appear that Levi's management is getting ahead itself after the company posted a solid Q4 and seeing the share price bounce. "We're still facing some headwinds, including anticipated door closures at traditional wholesale customers, unrest in Europe, as well as Brexit, continued uncertainty around China tariffs, and declines in U.S. retail traffic," stated CEO Chip Bergh on the earnings call.