Tech in Africa
The last month has seen a rise in the fortunes of Jumia stockholders. This development is drawing attention to stock market players. The stocks sold as high as $47 during Christmas and fluctuated between $34 and $39 since the 11th of December 2020.
On January 12th, 2021, Jumia’s stock sold for $40 at the NYSE.
The first three quarters of 2021 saw a 12% drop in Jumia’s revenues after which the price shot up by 600% ever since. The stock has kept its momentum for a month now. Investors who did not purchase Jumia’s stock while it was at $2 in March are beating themselves up for failing to take advantage of the situation. For now, Jumia remains the Amazon of Africa, and it looks like it will stay that way for the foreseeable future.
Source: TechEconomy.ng
