Jumia Technologies AG (NYSE:JMIA) was skyrocketing up over 27% higher on Monday after the Africa-based e-commerce company announced it will expand its logistics services on the continent through a new partnership with United Parcel Service, Inc (NYSE:UPS).
The announcement added a high level of momentum to the uptrend Jumia reversed into on March 15, after a 90% decline, which brought the stock down from its Feb. 10, 2021 all-time high of $69.89 to a low of $6.41.
