I don’t think living under a rock is enough for someone to have never heard of Amazon ($AMZN). Initially a digital book store, Amazon has seemingly dipped its hand into every type of market known to man from books, to streaming services, to grocery stores, and surely more to come. For something to be considered to Amazon’s caliber but in a more developing continent in terms of digitalized global transaction, it deserves attention. Jumia Technologies ($JMIA) is an African E-commerce platform with the similar, diverse capabilities we have known to appreciate, yet fear, of Amazon.
Currently sitting at $17.10 per share, Jumia creates a relatively cheap investment for a possible huge gain over the years. The digital market of Africa is fresh, and with Jumia already exploring digital food delivery capabilities, they show that expansion is at the top of their list after only going public in the past year. In addition, Jumia has already been up to the $30 range after its IPO, so at $17 you see plenty of room to grow combined with innovation, a recipe for gains. Jumia announces earnings on November 10th, one week after the election where hopes are volatility will be cooled off by then. Since the public status of the company is so young, the past earnings report is slim, only last quarter was reported, making their earnings history indifferent to the outcome of this earnings report that is coming. As the share price has crime steadily in the past 6 days, there may be a dulling before we see a run up in anticipation of the earnings report as we are still a little less than three weeks out. Watch closely!