Down 76% in 1 Year, This E-Commerce Stock Could Deliver Massive Gains Down the Road

E-commerce companies performed exceptionally well during the heat of the pandemic as consumers relied on online platforms to purchase goods. Popular online shopping stocks like Amazon, Shopify, and Etsy went on massive bull runs as a result, returning 75%, 258%, and 518% to investors from April 1, 2020 through Dec. 31, 2021, respectively.

The narrative has shifted of late. As threats from COVID-19 diminish and consumers return to brick-and-mortar stores, e-commerce companies have been left with unfriendly comparable metrics from a year ago. One high-risk, high-reward e-commerce stock that has been particularly crushed in recent memory is Jumia Technologies (NYSE: JMIA), Africa's leading platform for online shopping.

Down 76% in one year and 38% year to date, the African e-commerce stock continues to tumble in the wake of several macroeconomic headwinds. Yet, the company has demonstrated notable improvement in recent quarters, and given its ongoing pullback, long-term investors should consider climbing on board today.

Source Fool.com