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JMIA - Why Jumia Stock Gained 8% Today After Plunging at the Open
Jumia Technologies AG American Depositary Shares each representing two
Following the company's earnings report this morning, shares of Jumia Technologies (NYSE: JMIA) initially dove as much as 23% before recovering those losses to finish up 7.6%.
The movements tracked with a larger trend in tech stocks, showing investors pouncing on discount prices after a sell-off yesterday and this morning. The price swing also indicates that investors don't know what to think of the African e-commerce company's latest earnings report.