Jumia Technologies (JMIA) is an African e-commerce online retailer technology company. It is a company built around a marketplace, logistics service and payment service. The logistics service enables the delivery of packages through a network of local partners while the payment services facilitate the payments of online transactions within Jumia’s ecosystem.
Jumia was proclaimed, touted, hyped-up as a new age stock by many stockbrokers and investment advisors as the next Amazon. In fact, Jumia’s stock price skyrocketed 1000%
during the market bubble in 2020 but the stock price crashed in 2021 & 2022 when the bubble burst.
Many if not all investors lost most if not all their investment, some investors were leveraged with margin loans, others with lines of credit secured by their portfolio, and most lost all they had invested, not only in Jumia, but also their overall investment portfolio.
Most stockbrokers and investment advisors failed to do their due diligence on Jumia. Had they conducted adequate due diligence, investigate the company and properly “Kicked the Tires” of Jumia, they would have discovered it was highly leveraged, extremely risky and in the middle of a bubble from the over exuberance in the stock market at the time.
If you lost money in your Jumia Technologies investment call our Detroit area Securities Law Firm and schedule a Free Consultation.
You may have a claim against your advisor enabling you to recover your losses.