Dear readers, Jumbia Technologies stock (NYSE:JMIA) commenced trading at USD $14.50 per share in April 2019. Touted as the “Amazon of Africa”, Jumia Technologies stock next rallied to reach the 52-week high of USD $49.77 in May 2019, which was a more than 300% price increment.
However, subsequently, this “Amazon” of Africa began its reversal of fortune, reaching a 52-week low of USD 9.99 in Aug 2019. Jumia Technologies last closed at USD 11.11 last Friday.
When I first chanced upon Jumia Technologies stock in April this year, there was so much hype and optimism from some internet commentaries. Some investors who bought into Jumia Technologies though might have done so for fear of losing out another “Amazon stock” in their lifetime since Jumia Technologies has been touted as the Amazon of Africa. But I stood unperturbed by all the commentary and refused to buy into Jumia Technologies IPO since IPOs in my humble opinion are often very much hyped up. And I do not know the details of Jumia’s business well.
It is really not easy for investors to spot the next Amazon, the next Ali Baba, but that does not mean investors should use their hard-earned monies to invest in anything that are touted as the equivalent of potential multi-baggers without due diligence.
Here, at Singapore Stocks Investing, I advocate a strategy where investors should safeguard the core of their investment portfolio in relatively defensive theme like the STI ETF. Thereafter, allocate the remaining portion of the portfolio of potential multi-bagging stocks. Potential multi-bagging stocks that are really eligible rather than speculative.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!