JMIA - 3 Things to Expect from Jumia Technologies in 2021
Jumia Technologies (NYSE: JMIA) has been quite a story in 2020 -- even in a year when many e-commerce stocks have generated triple-digit returns. Nigeria-based Jumia's stock is up over 400% in 2020 with just a few weeks to go as digital commerce rises around the globe amid the pandemic.
This particular player still holds a lot of promise -- it's in pole position on the African continent, but is still small, with a market cap just shy of $3 billion as of this writing, with lots of opportunities to move the ball in a new digital era. If the company's recent advance is to continue in 2021, however, I expect these three things will need to happen.
E-commerce really starts to work when the mass-movement of goods gets rolling. But to accomplish that, lots of customers are also necessary. With an African population of well over 1.3 billion, achieving the necessary scale is most certainly possible for Jumia.
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3 Things to Expect from Jumia Technologies in 2021