TOM K BOUGHT INTO JUMIA STOCK!

Dear readers, recently I have shared in one of my recent posts about Jumia Technologies’ debut on NYSE last week. Initially slated for the debut on the stock exchange on 11 Apr 2019 (Thu), the debut was delayed by one day to 12 Apr 2019 (Fri) but this delay did not stop my interest in this stock which has been widely touted as the Amazon stock of Africa!
Jumia stock’s IPO price was USD 14.50 and I knew from what I had read on the internet, that on its debut day, there would be a high likelihood that Jumia stock would skyrocket in stock price. As such, I wasted no time to “grab” Jumia stock when it opened at USD 18.26. I gotten Jumia stock at USD 19 and yes, right from the start, Jumia skyrocketed!

Jumia stock rallied from its IPO price of $14.50 by 75.59%! So as to close its first day of debut on the stock exchange at USD 25.46! Such a rally in Jumia stock was unexpected from me as such I sold off Jumia at a lower price on the same day of debut last Friday to pocket a profit which was still decent.

Going forward, I would be looking at how Jumia stock would settle before deciding whether to enter into the stock again. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.