What happened Shares of Africa-focused e-commerce start-up Jumia Technologies (NYSE: JMIA) finished trading up 28.2% on January 16, with the biggest catalyst looking like word that the company was making some management changes. That news corresponded to a huge spike in trading and the share price late in the day, resulting in more than 7.6 million shares trading hands. That's seven times higher volume than typical for Jumia. So what According to Business Daily Africa, Jumia has named Kenneth Oyolla as Chief Commercial Officer and CEO of Jumia's Ghana business unit. This news comes after the company reported after its third quarter that it would take a step back from some markets, in an effort to cut costs so that it could attain profitability more quickly. Is Jumia stock starting to reverse its losses? Time will tell. Image source: Getty Images. Now what Today's big surge probably wasn't entirely related to the hiring of a new CCO; Jumia's shares have muddled along near an all-time low since reporting Q3 in November, so it's likely investors were looking for any good news to spark a rally. After all, there's a lot to like about the company, including its first-mover position and scale in Africa's biggest countries, and JumiaPay, its online payment system that could prove as valuable (and maybe more profitable) than e-commerce itself. With that said, there's still plenty of risk investors should consider. The company has only just started its cost-cutting steps, so it's possible we will see it take a step backwards before the numbers improve. So go the risks of investing in high-growth stocks, particularly recent IPOs. I'm optimistic the company will turn the corner, but I intend to wait a few quarters to let things play out before deciding what to do next. Now strikes me as a great time to sit on one's hands and let management prove they can turn it around. 10 stocks we like better than Jumia Technologies AG-ADRWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Jumia Technologies AG-ADR wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Jason Hall owns shares of Jumia Technologies AG-ADR. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source