MELI - A Bull Market Is Coming: 1 Monster Growth Stock That Could Be the Next Amazon to Buy Now
2024-01-24 04:50:00 ET
The Latin American economy stumbled in 2023, but World Bank economists expect growth to accelerate in 2024 and 2025 as inflation moderates and interest rates fall. That should be a catalyst to business and consumer spending across the region, and few companies are better positioned to benefit than MercadoLibre (NASDAQ: MELI) .
Another favorable tailwind is also taking shape. The S&P 500 (SNPINDEX: ^GSPC) has rebounded from its bear market lows and recently rallied to a new record high. Some investors believe the index has already entered a bull market.
The S&P 500 returned an average of 169% during the last dozen bull markets, and many stocks will move much higher during the next one. That could certainly be a tailwind for MercadoLibre.
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A Bull Market Is Coming: 1 Monster Growth Stock That Could Be the "Next Amazon" to Buy Now