MELI - ContextLogic Is A Buy On Sales Multiples

• ContextLogic Inc. runs an ecommerce business model with more than 550k merchants, and more than 100 million monthly active users.
• Given that mobile data traffic per smartphone is increasing at a large pace, ContextLogic Inc. will most likely receive more visitors in the coming years.
• ContextLogic is cheap. Competitors trade with an EV/Sales of 1x-25x forward sales with the median at 3x-3.8x. ContextLogic Inc. trades at 0.8x 2023 sales.
• ContextLogic Inc. represents a great investment opportunity if you are willing to wait.
• I would expect investors to really study ContextLogic's business model when the number of visitors is comparable to that of Amazon or eBay.

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