MELI - MercadoLibre's Stock Is on Fire This Year but Is It Still a Buy?
2023-04-27 07:45:00 ET
With 2023 almost a third of the way over, some stocks have separated themselves from the pack in terms of performance. MercadoLibre (NASDAQ: MELI) is one of them, up over 50% since the calendar flipped to 2023.
While shareholders are thrilled with its performance, many might wonder if they can still buy the stock without overpaying. While you can't get the stock as cheaply as you used to, it still looks attractive. Here's why.
MercadoLibre is the e-commerce leader in Latin America but is also so much more. Like Amazon (NASDAQ: AMZN) , it has a logistics network to deliver packages. The scale of this wing is also quite impressive as 51% of packages were delivered in two days or less during the fourth quarter.
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MercadoLibre's Stock Is on Fire This Year, but Is It Still a Buy?