In the Zone

JMIA – Jumia Technologies 

 

Jumia Technologies operates an e-commerce platform in Africa and has a market cap of $1.2 billion USD. The company's platform consists of marketplace, which connects sellers with consumers; logistics service that enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company's platform in selected markets. Jumia’s website is one of the biggest, top ranking as well as one of the most visited in Africa based on it’s Alexa ranking. 

 

The company has operations in 11 African markets serving a total population of around 600 million people. That accounts for 70% of the continents gross domestic product of 2.3 trillion USD. According to research by Paul University in Awka, Nigeria in the past few years Africa has had some of the fastest internet growth in the world, which has lead to consumers as well as producers taking advantage.   

 

As the stock market closed on Friday Jumia Technologies ended the week trading at $15.22 up $4.86 or +46.91%. The average weekly trading volume for this stock is 27.6 million but volume spiked about four times higher than normal as it climbed to end the week at 102.9 million. Going forward please keep this stock on your watch list in the week ahead as it continues to make higher highs and higher lows.

 

By Marlin Rolle

 

Please note that all the stocks listed are not a buy recommendation; please do your own due diligence or get help from a professional before trading.