Here's Why Jumia Stock Surged 12% After Short Seller Tweet
Shares of Jumia Holdings (NYSE: JMIA) surged as much as 12% after trading opened on Oct. 9, following a tweet from short seller Citron Research early this morning. In the tweet, Citron said, in caps, "NO WAY" would it short Jumia's stock after the recent run-up in the share price. Jumia shares cratered more than 50% in less than three months and had lost 80% of their value by the end of the year.