Why Jumia Technologies Stock Flopped on Friday

The stock of African e-commerce company Jumia Technologies (NYSE: JMIA) ended the week on a down note Friday. The company's shares lost more than 9% of their value following a rather aggressive downgrade from an analyst. That occurred on a trading day when the S&P 500 index rose by 0.5%. Well before market open, Aletheia Capital's Nirgunan Tiruchelvam pushed his Jumia recommendation two steps down -- to sell from his previous buy. His price target on the stock is $7.50 per share, quite some distance below its most recent close of $10.75. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool