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.

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Source Fool.com