Hedge fund manager says the stock, which currently has a billion-dollar valuation, could be worth $10 billion in two to three years.
Jumia Technologies , a pan-African e-commerce company listed on the New York Stock Exchange, could see its value increase tenfold or more in the coming years, according to hedge fund manager Josh Koren. Jumia, often described as the "Amazon of Africa," operates an e-commerce platform across 10 African countries .
line Now, though, it has rebounded more than 300% and on Monday shares were trading around $13. The company has a new executive team, and its latest financial results show improvement. Koren pointed to Jumia's recent quarterly results as evidence of the company's potential. Jumia reported that it has dramatically reduced its losses, with cash flow from operations turning positive for the first time.
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