Why Jumia Technologies Stock Blasted Almost 16% Higher Last Month

For the most part, Jumia Technologies (NYSE: JMIA) stock was on an upward trajectory in August. Much of this had to do with the second-quarter earnings report it posted mid-month, accompanied by an announcement of a capital raise backed by a familiar global financial agency. The African e-commerce company's American Depositary Shares (ADSes) closed the month nearly 16% higher.

Those results were published on Aug. 12 and revealed that Jumia's revenue totaled $52 million. That was good enough for a 14% year-over-year improvement. Gross merchandise value (GMV) rose more steeply, advancing by 20% to more than $207 million.

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