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Stock Alert: Jumia Technologies Down 25% Following Quarterly Results

Shares of Jumia Technologies AG (JMIA), an e-commerce platform in Africa, are falling more than 25% Wednesday morning following second-quarter earnings announcement.

The company said it expects continued Gross merchandise volume softness during the remaining of the year.

Revenue for the quarter decreased 10% year-over-year at 34.9million euros.

The loss for the period, however, narrowed to $39.39 million euros from loss of $67.84 million euros last year.

Jumia Technologies stock is currently trading at $11.85. It has traded in the range of $2.15- $23.90 in the last one year.

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