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Why Is Everybody Talking About Jumia Stock?

TheMotleyFool

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Why Is Everybody Talking About Jumia Stock?Photo, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/bda07ced-e79e-4489-b731-ada601660c8e.png

Jumia Technologies (NYSE: JMIA) is an internet retailer that is focused on several countries in Africa, including Nigeria, Egypt, and South Africa. After its April 2019 initial public offering at $14.50 a share, the bulls immediately drove its price up to $25 to close its first day of trading, and $40 not long after that.

The market was excited about Jumia in part based on the fantastic results that other internet retailers like Amazon (NASDAQ: AMZN), Sea Limited (NYSE: SE), and MercadoLibre (NASDAQ: MELI) have achieved.

Image source: Getty Images.

Source Fool.com

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