Research Notes: The WISH Activist
The AVTA story comes to a close, and the WISH story perhaps begins
Highlights:
WISH stock has collapsed since its late 2020 IPO — and with good reason.
So dire is the outlook that even shareholders want the business to shut down.
As a result, the company is a deep net-net with an enterprise value of negative $430 million. That’s brought activist attention.
The business is essentially hopeless. But there is a path forward f…