JMIA - This Might Be the Reason Jumia Stock Has Doubled in a Week
Shares of Jumia Technologies (NYSE: JMIA) blasted off on Monday after its prospects were discussed by analysts on CNBC. As of 3:15 p.m. EST, the stock was up 22%. But today's move isn't an isolated event. In just the past week, Jumia stock has more than doubled and it's up over 350% year to date. For this reason, part of the stock's recent gains could be the result of a short squeeze.
Short Hills Capital Partners Chief Investment Officer Steve Weiss appeared on CNBC's Fast Money: Halftime Report today and talked about his bullish outlook for Jumia. But it's not the first time an analyst has painted a rosy picture. The stock soared in October when Citron Research called the stock a "generational buy" and said it was heading to $100 per share.
Image source: Getty Images.
For further details see:
This Might Be the Reason Jumia Stock Has Doubled in a Week