After a slow start to 2020, shares in Jumia Technologies AG – ADR (NYSE: JMIA) ended the year as a top performer. After opening 2020 under $7, JMIA stock closed out the year at $40.35, for a 482% gain. The rapid growth continued into the new year and with its latest close of $64.18, shares are up 59% so far in 2021.What is the Jumia Technologies AG?
Jumia Technologies AG engages in the provision of logistic services. It operates though e-Commerce platform segment.What is the Jumia e-commerce platform?
Jumia Technologies encompasses a wide range of services including e-commerce, hotel booking, food delivery and online payments. The company currently claims over 110,000 active sellers on its e-commerce platform.Is Jumia making money?
However, the company feels that’s not the case. In its latest earnings report — which helped to spark the current run on JMIA — the company’s gross profit was up 22% year-over-year, operating loss was down 49% and transaction volume through its JumiaPay was up 50% YoY.