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Stock impact report

Why Jumia Technologies Stock Flopped on Friday [Yahoo! Finance]

Jumia Technologies AG American Depositary Shares, each representing two Ordinary Shares (JMIA) 
Company Research Source: Yahoo! Finance
10 stocks we like better than Jumia Technologies Ag › The stock of African e-commerce company Jumia Technologies (NYSE: JMIA) ended the week on a down note Friday. The company's shares lost more than 9% of their value following a rather aggressive downgrade from an analyst. That occurred on a trading day when the S&P 500 index rose by 0.5%. Double downgrade Well before market open, Aletheia Capital's Nirgunan Tiruchelvam pushed his Jumia recommendation two steps down -- to sell from his previous buy. His price target on the stock is $7.50 per share, quite some distance below its most recent close of $10.75. Image source: Getty Images. According to reports, Tiruchelvam's main concern is the company's net working capital position. In his update, he wrote that improvements in the metric were temporary and unsustainable. He also noted that Jumia stock is priced higher than peer e-commerce titles in terms of its enterprise value-to-sales ratio. The shares have been on quite a Show less Read more
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