Why Jumia Technologies Stock Fell Today
Shares of Jumia Technologies (NYSE: JMIA) were taking a dive today after the African e-commerce leader posted its second-quarter earnings report.
Though Jumia showed off solid growth in the quarter, investor attention focused on the company's expanding range of investigations concerning internal fraud among its sales force and accusations of faulty accounting and misstatements in its April initial public offering (IPO) that have led to class action lawsuits.
Jumia shares were trading down 17.4% as of 3:53 p.m. EDT.
Source Fool.com


