JMIA - Down 76% in 1 Year This E-Commerce Stock Could Deliver Massive Gains Down the Road
E-commerce companies performed exceptionally well during the heat of the pandemic as consumers relied on online platforms to purchase goods. Popular online shopping stocks like Amazon , Shopify , and Etsy went on massive bull runs as a result, returning 75%, 258%, and 518% to investors from April 1, 2020 through Dec. 31, 2021, respectively.
The narrative has shifted of late. As threats from COVID-19 diminish and consumers return to brick-and-mortar stores, e-commerce companies have been left with unfriendly comparable metrics from a year ago. One high-risk, high-reward e-commerce stock that has been particularly crushed in recent memory is Jumia Technologies (NYSE: JMIA) , Africa's leading platform for online shopping.
Down 76% in one year and 38% year to date, the African e-commerce stock continues to tumble in the wake of several macroeconomic headwinds. Yet, the company has demonstrated notable improvement in recent quarters, and given its ongoing pullback, long-term investors should consider climbing on board today.
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Down 76% in 1 Year, This E-Commerce Stock Could Deliver Massive Gains Down the Road