Why Jumia Technologies Stock Slipped Today
Shares of Jumia Technologies (NYSE: JMIA) were sliding today on concerns that tomorrow's lockup expiration could lead to a sell-off in the stock as insiders get their first chance to sell shares of the newly public company. The end of the lockup period, which traditionally comes 180 days after an IPO, is often a closely watched test for a new stock as it shows if early investors believe in the company's long-term value.
As of 2:36 p.m. EDT, the stock was down 8.1%.
Image source: Jumia Technologies.
Source Fool.com
