Why Jumia Stock Slumped 17.7% This Week
Shares of Jumia Technologies (NYSE: JMIA) slumped 17.7% this week, according to data from S&P Global Market Intelligence. The African e-commerce company has a highly volatile stock price, and with the global markets going down this week, it is no surprise to see the stock fall so much.
It is also possible investors got nervous because of more executive turnover. As of this writing, shares of Jumia stock are down 54% this year.
Jumia itself didn't put out any press releases, so it seems like global macroeconomic fears are hurting the company's shares. The U.S. just reported inflation of 9.1%, bringing down stock prices around the globe this week. High inflation around the world might negatively affect Jumia's operations.
Source Fool.com
