MELI - Supercharge Your Portfolio With the Top Marketplace in Latin America: Buy MercadoLibre
2023-03-21 05:10:00 ET
Since the stock of MercadoLibre (NASDAQ: MELI) hit its 52-week low on June 14, 2022, it has been on fire, up 100%, versus the S&P 500 , which only rose 6%. However, despite recently beating analysts' revenue and earnings guidance, the stock only gained 2% the day after releasing its fourth-quarter 2022 results.
Investors are likely reluctant to bid the stock up much higher in the near term due to its massive run-up over the last eight months, combined with the economy in its largest market, Brazil, facing high inflation, slowing growth, declining living standards, and growing social discontent.
So with the stock's momentum stalling in the near term and a gloomy outlook for growth in Brazil in 2023, should you put this stock on your buy list?
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Supercharge Your Portfolio With the Top Marketplace in Latin America: Buy MercadoLibre