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Wish Parent ContextLogic Higher on Venture With PrestaShop

A two-year accord will enable 300,000 merchants and brands on the PrestaShop platform to sell on the Wish marketplace.
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ContextLogic  (WISH) - Get Report, shares jumped Monday after the San Francisco-based e-commerce platform unveiled a partnership with PrestaShop, an e-commerce platform focused on Latin America and Europe.

The two-year accord will enable 300,000 merchants and brands on the PrestaShop platform to sell on the Wish marketplace. ContextLogic does business as Wish. 

ContextLogic recently traded at $11.34, up 13%. It has moved up 40% over the past month amid recent enthusiasm from the Reddit crowd. 

Wish will enjoy “trusted partner” status on PrestaShop and will have a special landing page on the Paris company's platform for merchants.

In other meme stock news Monday, Torchlight Energy Resources  (TRCH) - Get Report jumped as the oil and gas producer appears to have joined the meme stock club.

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Torchlight received the third-most mentions in the Stocktwits chatroom over the past 24 hours, with 142,117, Bloomberg reported Monday morning. It trailed only AMC Entertainment  (AMC) - Get Report and Ocugen  (OCGN) - Get Report.

Sitting pretty with my stack to hold through merger, and several stacks shorty can use to make me rich,” JSpores wrote on Stocktwits Monday.

Meanwhile, Wendy’s  (WEN) - Get Report shares rose Monday after Northcoast Research analyst Jim Sanderson upgraded the fast-food chain to buy from neutral, just a week after he downgraded it.

The downgrade had come after the Reddit crowd helped push the stock up 26% to $28.87 last Tuesday. The stock fell back to $24.14 at Friday’s close, making Sanderson more comfortable.

“Nothing last week changed our outlook or the fundamentals of the business,” Sanderson wrote in a commentary cited by Bloomberg.