Nike reported its second-quarter fiscal earnings today. They were good enough to send the stock soaring in after-hours trading; despite facing some losses in regular market hours. Nike wasn’t the only company to surprise investors today. Jumia Technologies has been riding up the bullish trail, and investors of the African e-commerce retail business love it.
The retail sector of the market is still surviving, though shoppers are flooding stores. There is also less foot traffic in big-name retail stores since businesses have either closed, moved, or the pandemic has scared consumers well enough to buy their goods from home. Without a doubt, Nike is a leading brand in the shoe market, with over a million different shoe styles and a hunch for all sport athletic wear. Online retail numbers were good enough for the stock to rally after the market closed on a loss. Nike reported an EPS of 78 cents, up 11%, on revenue of $11.24 billion, a 9% increase. Those numbers are satisfactory for being in a pandemic, with case numbers and deaths still gradually rising.
Nike, at the opening bell, immediately dropped, well-enough into lunchtime. After lunch, $NKE investors drove the stock price up gradually. The price action movement never turned Bullish until a quarter before 4 PM–at market close. Well-after a fiscal second-quarter earnings report, the stock was up almost 5%. For those investors who play the Holiday earnings, this could be a good time for those who believe the brand will do well this Holiday season.
“Coming to Jumia”
I like Jumia because ever since being listed under $15 (then in the summer), there was still a cult following behind it. I had trouble understanding what $JMIA was… not until a friend of mine, Dan Finkel, the stock analyst, took it upon himself to recommend it to me. “You should check it out whenever you get a chance Jumia is going to rip big!” He always touted. Unfortunately, I failed to take his advice at the time. Instead, I focused on dividend stocks since I believed more opportunity entailed for those stocks to stay positive and open for more PPE loans in hopes they would either raise their dividend yields or come up with some lustrous PR campaign that would drive the price higher.
Jumia Technologies provides e-commerce, retail services similar to the United States, Amazon & the Chinese company Alibaba.
Today the stock is listed under the ticker $JMIA. And since I last purchased shares, on December 1, the stock price has gone up almost $15 a share. I consider that paramount–accounting for the emotional blunder I had when I initially made the purchase. Fortunately, the stock price continued to fight on and rose on optimistic hopes.
As of now, $JMIA shares currently price in at $42.51–although I consider that an inflated price for most investors since its substantial drop in early December, how is that for stock-price manipulation? Do I think the stock will go up, down, or sideways….? I’m not entirely sure, although it should be due for a pullback similar to $PLUG… Most investors and traders don’t want to experience their own culture of viruses–and the worst one being a case of the FOMO.