Unprecedented Surge: The Phenomenon Behind Jumia’s Stock Soaring

Jumia ⁣Technologies (NYSE: JMIA) experienced a⁣ significant ⁤surge in‌ its ⁢stock price during Thursday’s trading session. The African e-commerce company saw‍ its shares rise by 19.7% by the end of the day, reaching a⁢ peak of⁣ 26.1% earlier in the day.

Following the market close yesterday, Jumia released preliminary unaudited key performance indicators (KPIs) for the ‍two-month period ending on November 30th. The company exceeded expectations with growth in orders, active customers, and gross ‌merchandise volume (GMV), leading to a positive response from investors.

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During the two-month period ending ⁢on November 30th,⁢ Jumia’s platform recorded 4.3 million adjusted‍ orders, marking an 18% increase compared ⁤to the previous year. A significant portion of these ‌orders, specifically 62%, ‍were placed ⁢during Jumia’s Black⁣ Friday ⁣event. Additionally, total active customers grew by 9% year over year‌ while⁢ GMV showed a notable increase of 33%. These‍ impressive results…

2024-12-05 19:10:35
Article sourced from finance.yahoo.com