Here's Why Jumia Technologies Stock Was Up Another 25% in December
Shares of Jumia Technologies (NYSE: JMIA) were up 25.4% in December, according to data provided by S&P Global Market Intelligence. The stock was hot throughout 2020, up over 600% for the year, and its momentum carried it higher last month as well. It likely would have gone even higher if Jumia hadn't sold more of its stock on the open market.
The COVID-19 pandemic surprisingly ushered a host of new investors into the stock market in 2020. For proof, consider that popular brokerage app Robinhood added around 3 million new accounts in the first four months of 2020 alone, and has continued its growth since. These new investors were hungry for undervalued, small-cap stocks and Jumia seemingly fit the bill.
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Source Fool.com
