What Happened With Jumia Technologies Stock Today？ - Jumia Technologies (NYSE:JMIA)

　　Jumia Technologies AG – ADRJMIA shares traded higher Tuesday after Benchmark analyst Fawne Jianginitiated coverage on the stock with a Buy rating and a $14 price target.

　　The Details

　　The Benchmark analyst saw the African e-commerce company poised to benefit from multi-year and potentially multi-decade e-commerce growth in the region and noted Africa's booming population which is expected to reach 2.5 billion by 2050, accounting for 26% of the world's population.

　　Jiang highlighted the proliferation of smartphones and mobile internet services and the growing infrastructure investment from both private sectors and governments in Africa. By 2025, 60%+ of internet connections in Africa are expected to be on smartphones and the number of online shoppers in Africa is expected to reach half a billion.

　　Jumia added two Buy Now, Pay Later (BNPL) partnerships in May to allow its customers to spread payments over a set period of time while removing the barrier of immediate payment to drive cashless payments across the Jumia ecosystem.

　　According to data from Benzinga Pro, more than 19 million Jumia Technologies shares were traded in Tuesday's session, and the stock is trading well above its 50-day moving average of $6.87.

　　Should I Sell My JMIA Stock？

　　Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

　　Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

　　Shares of Jumia Technologies have gained 157.78% year to date. This compares to the average annual return of -31.15%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

　　Investors may also consider market dynamics. The Relative Strength Index can indicate whether a stock is overbought or oversold. Jumia Technologies stock currently has an RSI of 89.99, indicating overbought conditions.

　　For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.

　　JMIA Price Action:According to Benzinga Pro, Jumia Technologies shares closed Tuesdays session 29.91% higher at $10.99.

　　Photo: Courtesy of Jumia Technologies AG

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