AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Summary
- Fisker Inc. (NYSE:FSR) stock jumped over 19%, while Jumia Technologies AG (NYSE:JMIA) plunged 7.75% in intraday trading on Tuesday.
- Fisker reported its Q2 earnings on August 5; Jumia reported June quarter earnings on Tuesday.
- Jumia Technologies’ second-quarter revenue rose by 4.6% YoY to US$40.2 million.
Stocks of American EV maker Fisker Inc. (NYSE:FSR) and online marketplace provider Jumia Technologies AG (NYSE:JMIA) were trending on Wall Street Tuesday.
FSR stock surged 19.03% to US$17.87 at 10:28 am ET after analysts set the stock’s target at US$40, while the JMIA stock declined 7.75% to US$20.28 at 10:41 am ET after its June quarter earnings.
Let's look at some recent developments of the two companies that may have led to their stock rally.
Fisker Inc.
Fisker Inc. is an American EV maker launched in 2016. Earlier, it was called Fisker Automotive.
On August 9, the stock jumped after a Morgan Stanley analyst raised the stock target by 166% to US$40, from its Monday closing price of US$15.03.
The company reported its Q2 earnings report for fiscal 2021 on August 5. The company's cash balance was US$962 million with zero debt, and loss from operations was US$53.1 million. In addition, the company's net loss totalled US$46.2 million or US$0.16 apiece.
Also Read: Golden Nugget (GNOG), Spartan (SPAQ) stocks shine after separate deals
Source: Pixabay.
Jumia Technologies AG
Jumia Technologies is an online marketplace provider for electronic and fashion products in Africa. The company also offers a logistics service, which allows its users to ship packages from sellers to consumers. It posted the Q2 earnings after the market opened on Tuesday.
The company logged revenue of US$40.2 million, up 4.6% YoY. Its gross profit rose from 25.6% to 26.8%, an increase of 4.4% YoY. Its operating loss increased by 24.7% YoY to US$51.6 million. In the same period last year, its operating loss was US$41.3 million.
Its sales and ad expense rose by 115% to US$17.1 million in the quarter against US$7.9 million in the year-ago period. Its cash reserves were US$637.7 million as of June 30, 2021.
In its forward guidance, the company said it will focus on increasing the number of users and further improve its payment app JumiaPay.
Also Read: When virtual world gets real: Top metaverse stocks to explore
Share performance
The Fisker stock’s 52-week highest and lowest stock price was US$8.70 and US$31.96, respectively. The stock grew by over 17% YTD. Its market cap is US$5.067 billion.
Jumia stock rose over 52% YTD. Its 52-week highest and lowest share value was US$69.89 and US$7.00. Jumia’s market cap is US$2.019 billion.
