Jumia Shares Skyrocket 32% After Open

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Jumia Technologies AG ADR JMIA, +43.79% began trading Friday morning and quickly jumped 32.6% after opening. Shares priced late Thursday at $14.50, about the midpoint of the $13-to-$16 expected range. Jumia is the top e-commerce site in Nigeria, and sells merchandise ranging from clothing to appliances across Africa. The Amplify Online Retail ETF IBUY, -0.16% has gained 23.6% for 2019 so far while the S&P 500 index SPX, +0.43% is up 16% for the period.

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