Shares of African e-commerce company Jumia Technologies (NYSE: JMIA) soared 34.1% in August, according to data provided by S&P Global Market Intelligence. On Aug. 10, Jumia reported Q2 results that showed growth in important areas.
Jumia Technologies (JMIA) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.
This Africa-focused e-commerce company has unmatched potential compared to the rest of the industry.