|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||14.36 - 21.02|
|52 Week Range||2.15 - 21.02|
|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||4.99|
The e-commerce start-up is looking to be the biggest mover in Africa, and investors have piled into its stock over the past week.
Shares of Jumia Technologies (NYSE: JMIA) tumbled 15% in late day trading Thursday after the so-called "Amazon of Africa" internet retailer filed notice with the SEC it intended to sell 14.85 million shares of its American Depositary Shares (ADS), representing 29.7 million ordinary shares of stock. With 74.5 million ADS outstanding at the end of 2019, the new stock Jumia will sell represents 20% of the existing shares outstanding, a substantial dilution to existing shareholders. Jumia Technologies appears to be making an opportunistic cash grab as its stock has more than quadrupled in value from its March lows.
Shares of Jumia Technologies (NYSE: JMIA) climbed today; the African e-commerce stock caught a tailwind as tech stocks surged broadly, though there was no specific driver for the movement. The Nasdaq Composite Index finished the day up 2.5% as investors looked ahead to earnings season; they were also hopeful that lawmakers in the U.S. and Europe will approve new coronavirus rescue packages, which would help encourage consumer spending and provide a safety net for the global economy. Jumia has mostly missed out on the rally that has lifted global e-commerce stocks, including Amazon, MercadoLibre, Sea Limited, JD.com, and Alibaba Group Holding, though online retail has been booming across much of the world due to the impact of the coronavirus pandemic.