Why Jumia Stock Soared Today

·2 min read
Why Jumia Stock Soared Today

Shares of Jumia Technologies (NYSE: JMIA) surged 20.8% on Tuesday after the African e-commerce marketplace announced some key metrics from its Black Friday selling period. Between Nov. 5 and Nov. 30, Jumia's gross merchandise volume (GMV) -- essentially, the total value of transactions placed on its platform -- climbed 30% year over year to $150 million. The gains were driven by a 27% rise in unique visitors to Jumia's sites, to nearly 40 million, and a 39% increase in orders to 4.3 million.

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