Is Jumia Stock a Buy?
Jumia Technologies (NYSE: JMIA) is aiming to become the de facto online marketplace and digital payments provider for the entire African continent, which sounds like an amazing opportunity. And indeed, it might be quite a rewarding long-term investment in time. But for now, Jumia is still a money-losing machine.
It reported earnings results for the first quarter on May 11. The company's operating loss for the quarter was 33.7 million euros ($41.1 million). That was greatly improved from its operating loss of 43.7 million euros in the first quarter of 2020, but it's still substantial.
However, even with ongoing losses like these, there are some reasons to be excited about Jumia.
Source Fool.com
