Sector Update: Consumer Stocks Giving Into Slight Selling Pressure Late

Last Updated: Tuesday, December 7, 2021 3:56 PM | MT Newswires

Consumer stocks were ending broadly higher in Tuesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing just 0.1% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 2.1%.

In company news, Jumia Technologies (JMIA) rallied Tuesday, posting a nearly 20% gain late in afternoon trading, after the ecommerce company reported a 30% increase in gross merchandise value over year-ago levels to $150 million during its Black Friday sales campaign last month. The event also attracted almost 40 million unique visitors to its platforms between Nov. 5-30, up 27% year-over-year, while the number of active sellers grew about 6% from the same period in 2020 to 46,000 merchants this year, Jumia said.

Trupanion (TRUP) soared over 39% after the pet care insurer Tuesday announced a partnership with Chewy (CHWY) to offer preventive care wellness and insurance plans for accidents, chronic conditions and illnesses to the online pet store's customers. Financial terms were not disclosed. Chewy shares were 1.5% higher.

Skillz (SKLZ) rose more than 12% after a regulatory filing overnight showed CEO Andrew Paradise Dec. 2 bought 54 of the esports and gaming company's shares at $8.327 apiece, increasing his direct stake in Skillz to 432,159 shares.

Bumble (BMBL) climbed 9.5% after a JPMorgan upgrade of the dating website firm to overweight from neutral previously.

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