₦airaland Forum

What happened
Shares of Jumia Technologies (NYSE: JMIA) were tumbling today after the African e-commerce company got attacked by a short-seller. Jumia shares, which had surged since its initial public offering (IPO) a few weeks ago, closed down 18.8% on the news.

So what

Well-known short-seller Citron Research, headed by Andrew Left, called Jumia an "obvious fraud" in a screed of a report published today, saying that it's the worst such scam the company has seen in 18 years.

A motorbike driver delivering a Jumia package.
A motorbike driver delivering a Jumia package.
Image source: Jumia.

Citron claims that Jumia filed to go public because its two largest investors, MTN and Rocket Internet, wanted an exit, and it fudged its numbers in order to win interest from American investors. Citron says it got access to a confidential investor report from October 2018 and that the numbers Jumia presented in its F-1 prospectus in March 2019 are materially different from what it showed to investors last October. In particular, the company inflated its active customers and merchants numbers by 20%-30%, according to Citron. Finally, Citron said that Jumia declined to say in the F-1 that 41% of orders were returned, not delivered, or cancelled in 2018.

Nigerian news sources have also questioned Jumia's fundamentals, according to Citron.

Now what
Citron's claims deserve to be taken seriously, but the company has been wrong before. In 2017, the company recommended shorting Shopify, the fast-growing Canadian e-commerce software company, but the stock has doubled since then. Citron came out again last month in a new report against Shopify.

Some of the short-seller's criticisms of Jumia resemble those of Shopify, as Citron argued that Shopify had its sales force pump up numbers with what essentially amounted to shell accounts. It made a similar claim about Jumia's sales force, Jforce Consultants. Furthermore, growth in active customers or even a high order cancellation rate is not necessarily a sign of fraud.

Expect Jumia to respond to the report, which could reassure investors and help the stock recover some of today's losses.

Whether or not Citron's charges are true, Jumia deserves to be treated with caution. The stock is trading at a price-to-sales ratio of 24, even after today's slide, and is deeply unprofitable with a loss of $195.2 million on revenue of $149.6 million last year.

Considering the stock is still nearly double its $14.50 IPO price, shares could fall further.

Source: https://finance.yahoo.com/news/why-jumia-technologies-stock-plunged-223600423.html

Church business

These are the best Android phones to get. I have the 6T and I love it. Well done OP

The US added 64,389 full-time legal cannabis jobs in 2018, according to a new report.

That outpaces growth in other sectors in the job market.

Job openings in the cannabis industry have also surged.

Forget the energy industry. Marijuana appears to be the fastest-growing job sector in the US.

The US added 64,389 full-time legal cannabis jobs in 2018, according to a new report from the cannabis website Leafly and the consultancy Whitney Economics. That represented a 44% increase in total positions, which rose to 211,000.

And that's not counting jobs indirectly related to the marijuana industry, like lawyers, accountants, security consultants, media companies, and marketing firms. With those included, the report said, there were 296,000 payrolls in the sector last year.

The report estimated that jobs in the industry would grow by at least 110% from 2017 to 2020, outpacing what are often seen as the top sectors. For comparison, the report noted US Bureau of Labor Statistics projections for 105% growth in solar-panel-installation positions and 47% growth in home-healthcare positions over a much longer 10-year period, from 2016 to 2026.

Because marijuana remains illegal under federal law, the BLS doesn't report employment figures for the industry. The report's authors used state data and industry figures to reach its estimates.

While the marijuana industry faces significant legal uncertainty, it has made headway in recent years. Recreational marijuana has been legalized by 10 states and Washington, DC.

And across the US, there are other signs the industry is booming. Job openings in the cannabis industry listed on the careers site Glassdoor rose to 1,512 last year from 858 in 2017.

"Investment in hiring is one of the strongest indicators for business confidence as it requires a substantial long-term investment of time, effort, and money," Glassdoor's Daniel Zhao wrote.

Overall hiring in the US slowed by more than expected in February, with the BLS indicating that the economy added its fewest jobs of any month since 2017. Economists will be closely watching the next BLS report for signs of whether that was just month-to-month noise or the start of a downward trend.

It’s unclear whether the marijuana industry would be able to keep up its growth levels in the face of a slowdown, said Josh Wright, the chief economist at iCIMS, a hiring software firm.

"The cannabis industry sounds big enough to make a difference for a lot of individual workers and perhaps communities, but on its own, it's not much of a recession-fighter," Wright said.

https://markets.businessinsider.com/news/stocks/weed-marijuana-fastest-growing-industry-us-job-market-report-2019-3-1028039054

Our government should legalise and regulate cannabis, at least for export purposes.

Hmmm

A simple Google search. Human beings lie but data don't lie. About 50 million compared to about 200 million people. What a shame.

Excaperx:
No wonder the international bodies didn't support atiku, they won't profit if Nigeria is doing great and atiku is economic friendly.

Nigeria was the fastest growing economy till Obama removed Jonathan for usa selfish interest.

May God bless you richly

hucienda:
Even with live results from regions like the SW, this one still dey dream with pre-election predictions?

Better start updating.

It's just a prediction

dguyindcorner:
Buhari cannot get that margin in SW

I believe so too

mhizdebbygold:
This one will not go and find work to do it's to be posting rubbish, who made u yakubu Mahmood?

You've got your own nerves, go check what's eating you up.

BUHARI VS ATIKU, 2019 ELECTION PREDICTIONS & PROGNOSES ON STATE BY STATE VOTING WITH PERCENTAGES.

1. NORTH CENTRAL - (6 States with the FCT) over 13m votes
Niger - Buhari 85%, Atiku 15%
Kogi - Buhari 70%, Atiku 30%
Benue - Atiku 55%, Buhari 45%
Plateau - Atiku 55%, Buhari 45%
Nassarawa- Buhari 52%, Atiku 48%
Kwara - Buhari 55%, Atiku 45%
FCT - Buhari 51%, Atiku 49%

2. NORTH EAST- (6 States)0ver 14m votes
Bauchi - Buhari 90%, Atiku 10%
Borno - Buhari 90%, Atiku 10%
Taraba - Atiku 65%, Buhari 35%
Adamawa - Buhari 51%, Atiku 49%
Gombe - Buhari 55%, Atiku 45%
Yobe - Buhari 92%, Atiku 8%

3. NORTH WEST- (7 States) over 18m votes
Zamfara - Buhari 75%, Atiku 25%
Sokoto - Buhari 80%, Atiku 20%
Kaduna - Buhari 70%, Atiku 30%
Kebbi - Buhari 85%, Atiku 15%
Katsina - Buhari 92%, Atiku 8%
Kano - Buhari 75%, Atiku 25%
Jigawa - Buhari 80%, Atiku 20%

4. SOUTH EAST- (5 States) over 9m votes
Enugu - Atiku 85%, Buhari 15%
Imo - Buhari 51%, Atiku 49%
Ebonyi - Atiku 75%, Buhari 25%
Abia - Atiku 85%, Buhari 15%
Anambra - Atiku 80%, Buhari 20%

5. SOUTH SOUTH – (6 States) over 10m votes
Bayelsa - Atiku 80%, Buhari 20%
Akwa Ibom - Buhari 53%, Atiku 47%
Edo - Buhari 60%, Atiku 40%
Rivers - Atiku 60%, Buhari 40%
Cross River - Atiku 65%, Buhari 35%
Delta - Atiku 70%, Buhari 30%

6. SOUTH WEST- (6 States) 0ver 18m votes
Oyo - Buhari 70%, Atiku 30%
Ekiti - Buhar 65%, Atiku 35%
Osun - Buhari 75%, Atiku 25%
Ondo - Buhari 65%, Atiku 35%
Lagos - Buhari 75%, Atiku 25%
Ogun - Buhari 55%, Atiku 45%

Findings shows that Buhari will win 25 States including FCT, while his opponent Atiku will get only 11 States.

What do expect from a candidate who's funded by United States masters. Our number one enemy is the Western countries, all other enemies are smaller than the Western bloc

Any brand that's mentioned here won't matter because almost all the brands are pirated already. You don't have an eye for this and you need someone who's a specialist in this area. Call this number and thank me later +2348034487030. I bought one from him last year and it's been a smooth ride. You just call him for advise and don't have to patronise him. Don't speak too much English o nah just trader.

Idboyostic:
Is this the original and not fake that can pass like original?

The picture below looks like the main deal but is fake, a new user or a first timer can't know the difference ....if yours is the main deal them am in

I bought it from the Apple store in a Nordstrom mall.

Edit: I also checked the serial number now and it's an authentic Apple AirPods.

AirPod is sold, thanks all.

bobo65:
Hnnmmm


Anyways phone is sold
The lady loves it

Thanks

I bought it from One plus direct at $585, regular mirror black. Send me a message if you're interested. The 6T is a great device, I've used it for about 2 weeks now and I'd highly recommend it.

Abrahamdgreat:
Can u collect #130k... Extremely over serious but broke buyer

Call me lets talk.

fuckboys:
The bolded is an insult to the number 1 smartphone manufacturer in the world, the latter isn't and can't be an upgrade to the formal. "I decided to change my phone" should have been an appropriate word.

Lol, I concede sir. But note the following areas where the 6T is better than the S9 - the in-screen fingerprint scanner is a really cool feature and first of its kind; night vision of the OnePlus 6T camera is better than the S9; the overall camera performance both front and back are better than the S9; it produces better real life images than the S9 (everyone knows that Samsung phone cameras usually appear like there's a filter on the camera); fluid operation (not hanging and all) is better than the S9; the 2-days battery life is far better than the S9; I've had about 3 software updates on the 6T but only one from Samsung since October when I bought it; the tear-drop notch looks cool to me; above all, I've used both devices and still feel I want to keep the 6T

Liliyann:
Bla bla bla
Make your money and no one will expect all this rules from you!!

You and majority of other Nigerians are the reason other nations treat us like trash. You want to buy basic courtesy with money?

olexy4real:
100k cash

Thanks but no, thanks