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Why Jumia Technologies Stock More Than Doubled Last Month

Why Jumia Technologies Stock More Than Doubled Last Month

Shares of Jumia Technologies (NYSE: JMIA) were soaring last month even as investors largely rejected the African e-commerce company's third-quarter earnings report, selling the stock on the news. Later in the month, a speculative frenzy driven by a possible short squeeze and bullish remarks by well-known investors lifted the stock. Jumia stock actually fell 19% on Nov. 10 after its third-quarter earnings report came out.