Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5974
    -0.0031 (-0.52%)
     
  • NZD/EUR

    0.5525
    -0.0017 (-0.31%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    82.44
    +1.09 (+1.34%)
     
  • GOLD

    2,233.20
    +20.50 (+0.93%)
     
  • NASDAQ

    18,280.84
    +70.30 (+0.39%)
     
  • FTSE

    7,952.38
    +20.40 (+0.26%)
     
  • Dow Jones

    39,760.08
    +477.75 (+1.22%)
     
  • DAX

    18,491.63
    +14.54 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • NZD/JPY

    90.3400
    -0.4400 (-0.48%)
     

Why Jumia Technologies Dived by Nearly 10% Today

Why Jumia Technologies Dived by Nearly 10% Today

Monday was not a good day to be an investor of African e-commerce specialist Jumia Technologies (NYSE: JMIA). In the wake of a disappointing earnings report published earlier this month, one analyst at a prominent investment bank has become more bearish on the stock; his analysis helped push Jumia's share price down by almost 10% on the day. Analyst Luke Holbrook has taken over coverage of Jumia stock for Morgan Stanley, and he wasted little time downshifting the investment bank's recommendation.