|Bid||20.00 x 1000|
|Ask||19.98 x 2200|
|Day's Range||16.56 - 19.54|
|52 Week Range||2.15 - 23.90|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 12, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.29|
On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about options activity in Snap Inc (NYSE: SNAP).When the stock was trading just below $22, Najarian noticed a purchase of 17,000 contracts of the August $22.50 calls. Traders paid around 60 cents for them, which sets the breakeven for the trade at $23.10. Najarian decided to follow the trade and he is going to hold it for two weeks.Traders were also buying the August $30 calls in Jumia Technologies AG - ADR (NYSE: JMIA).Najarian finds this very unusual because the stock is currently trading significantly lower. Around 4,000 contracts were traded ahead of the earnings results, which are scheduled for next week. Najarian bought these calls as well and he is planning to hold them through earnings or maybe even for two weeks.See more from Benzinga * Todd Gordon's Peloton Options Trade * Mike Khouw Sees Unusual Options Activity In Lyft * Cramer Gives His Opinion On Datadog, Alcoa And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of Jumia Technologies (NYSE: JMIA) soared 183.4% in July, according to data from S&P Global Market Intelligence. The e-commerce specialist announced implementation for Airtel Money as a digital payments option across its platform, but it's unclear to what extent this factored into Jumia's soaring valuation. The small-cap company's stock appears to have benefited from market momentum and investor enthusiasm for potentially explosive e-commerce plays amid torrid growth for the overall industry.
(Bloomberg) -- MTN Group Ltd. is planning to sell part or all of its $243 million interest in Jumia Technologies AG as Africa’s biggest wireless carrier looks to pay down debt and enter new markets, according to people familiar with the matter.MTN, which had previously marked the online retailer as a non-core business, is reviving plans for a sale after Jumia’s shares surged 142% this year, recovering from a dip in 2019, one of the people said. No final decisions about the sale have been made, the people said, asking not to be identified because the plans are private.Called Africa’s Amazon, Jumia operates in 14 African countries including Nigeria and Ivory Coast where the U.S. giant still lacks distribution infrastructure. The company -- headquartered in Germany and run by its two French founders, Sacha Poignonnec and Jeremy Hodara -- had dropped below its initial public offering price in 2019 after improper transactions in its Nigeria business were uncovered.Read More: African Amazon Jumia Has Five Quarters to Win Over InvestorsJohannesburg-based MTN has been disposing of non-core assets as part of the company’s strategy to reduce debt and drive future growth.The company also has a 29% stake in IHS Towers, which it may sell in the future, one of the people said. Africa’s largest wireless carrier by footprint has generated 14 billion rand ($812 million) in asset sales that included selling its towers holdings in Ghana and Uganda to American Towers Inc. The company plans include bidding for a license to enter Ethiopia, one of the largest markets that have not yet privatized its telecommunications industry.Read more: Hunt for Next Alibaba Is On as E-Commerce Rally Spurs EM StocksA spokeswoman for MTN declined to comment because the company is in a closed period ahead of financial results. A representative for Jumia declined to comment. IHS didn’t immediately respond to a request for comment.(The headline on this post has been corrected to say that MTN is looking to sell a stake in Jumia e-commerce.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.