Jumia Technologies Surges 16.2% in November Despite Mixed Month for Stocks

Jumia Technologies' stock rallied 16.2% in November despite a middling month for stocks. The company's third-quarter earnings report and Investor Day delivered positive numbers and narratives, but the market didn't initially respond. It wasn't until a sell-side analyst increased his price target that the market came around, bidding up shares. Jumia expects to become profitable and free cash flow-positive in 2027, with GMV growing at a 20% CAGR to $2.5-3.0 billion by 2030.