Cannell Capital urges ContextLogic (WISH) to cease operations and return the cash to shareholders

Key Summary: On September 19, 2023, Cannell Capital sent a letter to the CEO expressing concerns over the company's poor performance since its late 2020 IPO, significant market value decline, and cash flow losses, suggesting a strategic review and cash return to shareholders. On September 28, 2023, Cannell Capital formed "Rescue WISH" to support shareho…