Traders, in today's video I'm excited to cover an e-commerce stock that is poised to benefit from a major short squeeze. That could mean major upside ahead for us.
This year has shown us that e-commerce is the future of retail shopping — the less contact with people in this post-pandemic world, the better. However, big names like Amazon.com, Inc. (Nasdaq: AMZN) can turn some investors off with its $1.5 trillion market cap and share prices over $3,000.
If you're looking for the next under-the-radar stock that could deliver high returns, then look no further than Jumia Technologies (NYSE: JMIA).
Formally known as the "Amazon of South Africa," Jumia is a German-based e-commerce platform that accounts for 70% of Africa's GDP and internet users. It consists of a marketplace (allows sellers to connect with consumers), a logistic service (enables shipments and deliveries) and a payment service.
Citron Research is also bullish on JMIA (a complete turnaround from its position last year), which caused shares to soar higher. In a new report, Citron said:
"Their positioning in Africa alone (e.g., logistics, technology, employees, brand) should be worth minimum $7 billion or $100 per share."
JMIA currently trades for only $17 a share. I definitely think that this stock could trade up to $25 per share if this happens. |
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