Jumia rallies after Citron reiterates call for $100 share price

Shares of Jumia Technologies are moving higher after Andrew Left’s Citron Research reiterated its bullish call on the shares. Via twitter, the firm best known for short selling said, “$JMIA on its way to $100. Largest opportunity in E-Commerce Validated by Blowout Black Friday. New filing from Thursday shows Baillie Gifford just doubled their position and now owns greater than 20% of shares outstanding. If this was SPAC would be $100 TODAY.” Shares of Jumia are up 11% to $44.80 in midday trading.