Jumia Technologies stock jumps after Citron suggests acquisition by Amazon

Jun. 24, 2022 4:35 PM ETJumia Technologies AG (JMIA)AMZNBy: Kevin P. Curran, SA News Editor24 Comments

Scooter Motorcycles of the delivery service firm Jumia logistics services parked.

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Shares of Jumia Technologies (NYSE:JMIA) jumped on Friday after Citron Research fueled speculation about a buyout by Amazon (AMZN).

In a tweet promoting his interview with Business Insider, famed shortseller and Citron CEO Andrew Left suggested that the African eCommerce business would be a key acquisition target for Amazon (AMZN). Shortly after the publication of the comments, shares of Jumia rallied from a rather subdued midday session to post a strong gain, closing with a double-digit gain for the full week.

To be sure, Left has long promoted quite optimistic targets for Jumia (JMIA) since changing his tune from shorting to buying shares. There has been no indication from Amazon (AMZN) that it would be interested in such a move at this point.

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