MELI - MercadoLibre: Cracks In The Facade? Accounting Changes And Slowdown

2024-06-07 14:03:43 ET

Summary

• MercadoLibre is a high-quality business with exposure to eCommerce and Fintech in Latin America.
• Recent accounting changes have complicated the interpretation of key performance indicators and indicate a deceleration in the underlying business.
• The stock's high valuation and potential deceleration make it unattractive in the current environment.

MercadoLibre ( MELI ) is a high-quality business that can give investors exposure to the theme of structural growth in eCommerce and Fintech in Latin America, but I believe it’s unattractive in the current environment....

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