Here's Why Jumia Technologies Stock Fell 13% After Earnings
Shares of Jumia Technologies (NYSE: JMIA) are down 13.2% at 1:05 p.m. EST on Feb. 25, following the release of the company's fourth-quarter results after hours yesterday. The e-commerce company, which operates in Africa, listed some positives, including higher gross profits and accelerated use of its online payment platform JumiaPay, but continued losses and slowing growth after exiting three markets late last year.
With today's sell-off, Jumia's stock is now at an all-time low, 81% below its 2019 IPO price.
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Source Fool.com
