Why Jumia Technologies Rocketed 35% Higher in September
Shares of African e-commerce leader Jumia Technologies (NYSE: JMIA) rallied 35% in September, according to data from S&P Global Market Intelligence.
Jumia didn't have much in the way of company-specific news in the month, as it disclosed second-quarter earnings results back in early August.
However, Jumia's management gave an interview and hosted analysts, explaining how the Trump administration's tariffs are actually benefiting the African e-commerce company. Midway through the month, a Wall Street sell-side analyst more than doubled his price target on shares, leading to a 22% increase on the same day.
Source Fool.com
