Wall Street’s Silence Is Deafening as Citron Takes Aim at the Amazon of Africa
A worker packages goods inside a Jumia distribution warehouse in Lagos.
Photographer: George Osodi/BloombergThis article is for subscribers only.
It’s all quiet on Wall Street when it comes to Citron Research founder Andrew Left’s latest target, e-commerce company Jumia Technologies AG.
After a report from the short-seller stoked a 19% decline on Thursday, Wall Street analysts were nowhere to be found to pound the table and defend the company that has been dubbed the Amazon.com Inc. of Africa. The slump continued Friday with shares erasing a fifth of its market value in that session alone.