Why Jumia Technologies Stock Fell 23% Last Month

Why Jumia Technologies Stock Fell 23% Last Month

Shares of Jumia Technologies (NYSE: JMIA) finished last month lower after the African e-commerce company succumbed to the tech sell-off at the end of the month. Jumia had entered the month on a blistering run, rising from less than $3 early on in the pandemic to more than $60 at the beginning of February, but a number of investors had argued that the stock was overvalued.