Why Jumia Stock Skyrocketed Today

Jumia Technologies (NYSE: JMIA) stock surged in Thursday's trading. The African e-commerce company's share price ended the day's trading up 19.7% and had been up as high as 26.1% earlier in the session.After the market closed yesterday, Jumia published preliminary unaudited key performance indicators (KPIs) for the two-month period ending Nov. 30. The company reported better-than-expected growth for orders placed, active customers, and gross merchandise volume (GMV) during a key sales stretch, and investors bid up the stock in response.Over the two-month period ending Nov. 30, Jumia's platform recorded 4.3 million adjusted orders -- up 18% compared to the prior-year period. Of those orders, 62% were placed during the company's Black Friday event. Total active customers increased by 9% year over year, and GMV was up 33%. These reported results and comparisons exclude contributions from the South African and Tunisian markets, which the company will be exiting by the end of the year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool