Why Shares of Jumia Technologies Shot Higher Today

1 min read

Shares of Jumia Technologies (NYSE: JMIA) traded up more than 10% as of midday EST on Wednesday, after a prominent investor best known for going short said the African e-commerce company’s stock is poised to go higher after a great holiday season. The midday move is even more impressive considering shares of Jumia were down almost 5% on Wednesday prior to the tweet.

Jumia, a German company that provides e-commerce sales and services in a number of African countries, has been a battleground stock for the better part of a couple years. Bulls marvel at the potential of Jumia becoming the Amazon of Africa, while bears worry about the logistical and other hurdles it faces trying to get there.

JMIA Chart

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Dow Jones Edges Higher as Intel Picks New CEO, Visa Abandons Plaid Acquisition

Next Story

In 5 Years, Amazon Will Make 3X More Money Selling Ads Then Tesla’s Whole Business Today, Says Analyst

Latest from Blog