The Risks and Opportunites of The ‘African Amazon’ Jumia IPO

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  • #20281
    ClemSnide
    Participant

    The Nigerian company Jumia Technologies NYSE…

    [article]1394[/article]

    #24772
    TradersCom
    Keymaster

    Jumia Technologies AG (JMIA) shares continues to rise after the company announced the launch of a gaming platform.in partnership with technology company Mondia last week.

    Jumia games are available now at JumiaPay app in five African countries including Egypt, Nigeria, Morocco, Kenya, and Ghana with expansion plans to more markets over the next few months.

    The subscription-based service allows JumiaPay users to have access to thousands of Jumia Games including CR7, Ben10, Tom and Jerry, and Cartoon Network games.

    The momentum also got a boost from a tweet from short seller Citron Research in caps, “NO WAY” would it short Jumia’s stock after the recent run-up in the share price. This is a sharp reversal from Citron’s accusations in May 2019 when it called the company an “obvious fraud” and announced it was shorting Jumia stock.

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