JMIA - Jumia gains for a second day on Black Friday results Citron promotion

Jumia Technologies (NYSE:JMIA) rose almost 10% after advancing 21% yesterday after reporting 30% Y/Y growth in Black Friday campaign GMV. Jumia's gain today may have been helped by a Citron Research tweet earlier, where Citron said the shares could hit $22 before the company reports earnings. Citron, who originally recommending shorting Jumia in 2019, changed its tune last year and was promoting the stock as a long. Jumia (JMIA) yesterday said it posted a record of almost 40M unique visitors to its platforms, an increase of 27% Y/Y, while campaign video content recorded almost 190M views on social media. Jumia short interest is 12%. Last month, Morgan Stanley downgrades Jumia Tech to underweight.

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Jumia gains for a second day on Black Friday results, Citron promotion