Why Jumia Technologies Stock Soared Today
Shares of Jumia Technologies (NYSE: JMIA) climbed today; the African e-commerce stock caught a tailwind as tech stocks surged broadly, though there was no specific driver for the movement. The Nasdaq Composite Index finished the day up 2.5% as investors looked ahead to earnings season; they were also hopeful that lawmakers in the U.S. and Europe will approve new coronavirus rescue packages, which would help encourage consumer spending and provide a safety net for the global economy.
Jumia shares finished the session up 22.5%.
Image source: Jumia Technologies.
Source Fool.com
