MELI - Go Bullish on MercadoLibre Stock: 5 Reasons to Ignore the Bears
2024-02-27 06:47:00 ET
MercadoLibre 's (NASDAQ: MELI) stock sank 10% on Feb. 23 in response to its fourth-quarter earnings report. The Latin American e-commerce leader's revenue rose 42% year over year (83% on a currency neutral basis) to $4.26 billion and exceeded analysts' estimates by $130 million. However, its diluted earnings stayed flat at $3.25 per share and broadly missed the consensus forecast of $7.17 per share.
That earnings miss was jarring, but a closer look indicates its core business is still firing on all cylinders. Let's review five reasons to ignore the bears and buy MercadoLibre after its post-earnings dip.
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Go Bullish on MercadoLibre Stock: 5 Reasons to Ignore the Bears