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Why Jumia Stock Jumped Today

Why Jumia Stock Jumped Today

Shares of African e-commerce and digital-payments company Jumia Technologies (NYSE: JMIA) jumped on Tuesday after the company reported financial results for the first quarter of 2022, showing strong growth across its business. As of noon ET, Jumia stock was up 24%. Keep in mind that a business like Jumia has some seasonality to it -- you'd expect fourth-quarter results to be stronger than first-quarter results, so it's better to look at year-over-year numbers.