Is The “Amazon Of Africa” An “Obvious Fraud”?

Famed short-seller Andrew Left and his firm Citron Research are now taking aim at Nigeria-based Jumia Technologies, which some refer to as Africa's Amazon. Unsurprisingly, the sell-side generally likes Jumia, although there is at least one analyst who's an exception.

Jumia held its initial public offering on the New York Stock Exchange last month, and it's been a bumpy ride ever since. Initially the stock soared, but then it came down after Citron released its scathing report. The stock bounced again following the company's latest earnings report and a wide array of positive coverage from the sell-side, which seems...