Jumia Technologies AG (JMIA) saw its stock soar 5.28% in intraday trading on Thursday, driven by the company's robust performance and strong sales growth in the recent months.
According to updates released by the e-commerce company, Jumia reported a stellar performance for the two months ending November 30th, 2024, benefiting from the Black Friday sales period. The company announced that it recorded a total of 4.3 million orders during this period, reflecting significant growth in its sales and customer base.
The impressive sales figures and growth numbers were well-received by investors, leading to a surge in Jumia's stock price on Thursday. The strong performance highlights the company's ability to capitalize on the growing e-commerce market in Africa and effectively cater to the increasing demand during peak shopping seasons like Black Friday.
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