Jumia’s shares have dropped below its IPO price as speculators and shorts hover
Four months after a landmark launch on the New York Stock Exchange, Jumia—the largest e-commerce operator in Africa—has crashed below its IPO price.
After launching its IPO at $14.50 per share, the mid-point of its initial share price range, Jumia’s shares reached an all-time low of $14.02 before recovering to close at $14.57 on Monday Aug. 5. By Tuesday morning New York time, it continued to fall by 1.7% to $14.31.
The price dip comes after a weak run for most of July which re...