MELI - Here's My Top Growth Stock to Buy in 2023
2023-04-25 05:35:00 ET
Despite the recent bear market, growth stocks have stayed on the minds of many investors, and some took advantage of lower share prices to add to their positions. The loyalty has paid off, as many growth stocks have begun to make a comeback.
One of these comeback stocks is MercadoLibre (NASDAQ: MELI) . It has more than doubled from its 52-week low after losing more than two-thirds of its value in the bear market. Despite that increase, it is likely not too late to invest in MercadoLibre (which means "free market" in English). Here's why investors should continue to buy the internet and direct marketing retail stock .
During the 2022 bear market, many e-commerce-oriented companies experienced a slowdown as consumers returned to offline shopping. However, the slowdown that hit peers like Amazon left MercadoLibre largely untouched.
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Here's My Top Growth Stock to Buy in 2023