Why Shares of Jumia Technologies Shot Higher Today
Shares of Jumia Technologies (NYSE: JMIA) traded up more than 10% as of midday EST on Wednesday, after a prominent investor best known for going short said the African e-commerce company's stock is poised to go higher after a great holiday season. The midday move is even more impressive considering shares of Jumia were down almost 5% on Wednesday prior to the tweet. Jumia, a German company that provides e-commerce sales and services in a number of African countries, has been a battleground stock for the better part of a couple years.