Why Jumia Technologies Stock Lost 20% in March
Shares of Jumia Technologies (NYSE: JMIA) continued to decline in March on a broader pullback in high-priced growth stocks. Rising interest rates and a general rotation into more cyclical stocks continued the slide from February, and the African e-commerce company's announcement of a secondary offering also pressured the stock. According to data from S&P Global Market Intelligence, the shares finished March down 20%.
As you can see from the chart below, the stock remained volatile. It was even up double digits at one point last month.
Source Fool.com