Explaining The Resurgence That Has Seen Jumia Reclaim Unicorn Status

At 4:00 PM EDT on Friday, July 31, Jumia Technologies AG (JMIA) closed trading on the New York Stock Exchange (NYSE) at USD 15.56 per share, giving the at times beleaguered e-tailer a market cap of USD 1.22 Bn.

A day prior, the African e-commerce firm had reclaimed unicorn status, however briefly, after its stock peaked at USD 13.36 which saw the company’s valuation touch USD 1 Bn -- its highest since August 2019 when Jumia stock was very much on its way downhill.