Contextlogic Inc (WISH)

[ron51]

“ContextLogic maintains its cash and short-term investments with a diverse group of large national financial institutions,” said Vivian Liu, Chief Financial Officer and Chief Operating Officer of Wish. “As of December 31, 2022, less than 5% of the Company’s $719 million of cash, cash equivalents and marketable securities was held at Silicon Valley Bank (SVB). Therefore, we do not expect the SVB situation to materially impact the Company’s overall liquidity position or its day to day operations.”

why so much cash in bank?

if they believe in their business could they buy their own shares ??