Why Jumia Technologies Stock Is Tanking
Portfolio Pulse from Erica Kollmann
Jumia Technologies AG (NYSE:JMIA) shares are dropping after the company posted worse-than-expected Q2 sales results. Revenue was $36.5 million, missing estimates by 19.09% and down 17% year-over-year. Marketplace revenue fell 10% and first-party sales revenue dropped 24%. Despite a 7% increase in orders, the stock is down 49.8% to $5.32.
August 06, 2024 | 4:42 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Jumia Technologies reported disappointing Q2 sales results, with revenue missing estimates by 19.09% and declining 17% year-over-year. Despite a 7% increase in orders, the stock is down 49.8% to $5.32.
The significant miss on revenue estimates and year-over-year decline in sales are likely to negatively impact investor sentiment in the short term. The stock's sharp decline of 49.8% reflects this negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100