Why Jumia Technologies Jumped Over 22% Today
Shares of African e-commerce giant Jumia Technologies (NYSE: JMIA) rallied 22.3% on Tuesday as of 2:35 p.m. ET.
Jumia didn't release any company-specific news today, but did receive a rather large price target increase from a sell-side analyst.
Today, RBC analyst Brad Erickson raised his price target on Jumia from $6.50 all the way to $15 per share. Even after today's rally, the stock only trades around $12 per share.
Source Fool.com
