ContextLogic Inc (NASDAQ:WISH) shares are trading lower Tuesday after rallying more than 12% on Monday. The company announced a new partnership with PUDO.
What Happened: ContextLogic inked a new agreement with parcel pick-up and drop-off network company PUDO. The partnership will allow Wish customers to pick up packages from PUDO’s network across the U.S. and Canada.
Wish said it aims to increase customer convenience through the agreement. By the end of the year, the company expects to have 24,000 pick-up points available to customers globally.
“Through our collaboration with PUDO Inc., we’re enhancing the shopping experience for our customers,” said Bill Zhang, VP of global logistics and China GM at Wish.
“The partnership amplifies convenience by enabling hassle-free package retrieval from numerous locations. In parallel, it also opens up new avenues for independent retailers to drive increased foot traffic and revenue streams generated by package collections.”
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WISH Price Action: ContextLogic shares were down 4.85% at $4.52 at the time of publication, according to Benzinga Pro.
Photo: 3844328 from Pixabay.
