In December 2020, the fortunes of Jumia’s stockholders increased. This is a development that draws attention to players in the stock market. Stocks sold as high as $47 during Christmas and have fluctuated between $34 and $39 since December 11, 2020.
On January 12, 2021, Jumia’s stock was sold at NYSE for $40.
The first three quarters of 2020 saw a 12 percent decrease in Jumia’s earnings, after which the price has since risen by 600 percent. For a month now, the stock has maintained its momentum.
It is not clear what exactly drove the price of the stock higher this week. Jumia is not yet profitable, but some market observers have wondered if the business could develop into a dominant e-commerce operator to become the Amazon of Africa.
Jumia operates an online marketplace and currently operates in countries like Nigeria South Africa and Egypt.