WeShop Stock Performance: WeShop (WSHP) stock fell 32.5% in pre-market trading after a significant 506.6% rally following its direct listing on the Nasdaq Capital Market earlier this week.
E-commerce App Launch: The company launched its e-commerce shopping app, which features partnerships with major retailers like Bloomingdale’s, Walmart, and Nike, and offers over 1 billion products along with a ShareBack loyalty program.
Founder’s Vision: John Garner, WeShop's founder, emphasized the app's community-driven shopping experience, where users can benefit from peer-to-peer recommendations and share in the network's value.
Investor Caution Advised: Due to the recent volatility and lack of analyst coverage, investors are advised to be cautious about investing in WeShop at this time.
WeShop Holdings Limited is a shoppable social network offering shoppers a loyalty program where they are given the ability to earn WePoints every time they make a purchase, or refer a new user that earns WePoints, which are eventually converted into ordinary shares in WeShop. It has partnered with Influencers, sponsored an organization, Salford City, and developed a Founder Program to spread awareness of the platform. It offers hundreds of millions of products from over 500 retailers in the United Kingdom including eBay, Expedia, Boots, Selfridges and Marks & Spencer to its community daily. It has partnered with affiliate networks that enable access to over 500 United States retailers including Walgreens, Sams Club, Bloomingdales, Kitchen Aid, Samsung, StubHub and Best Buy. Its platform allows its users to recommend any of the hundreds of millions of products available to their friends and across the network by writing reviews and uploading their own content in picture or video format.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
