MELI - The 'Amazon of Latin America' May Also Be the Market's Best-Kept Secret
2023-09-15 05:25:00 ET
If you keep close tabs on foreign economies, then you likely know South America's not exactly firing on all cylinders right now. Although the United Nations' Economic Commission for Latin America and the Caribbean (ECLAC) recently raised this year's GDP growth expectations for the region from 1.5% to 1.7%, that's still pretty low.
The commission also fears Latin America's economic growth will slide back to a meager 1.5% next year. Things just aren't clicking there, making it tough for any U.S. investor to get excited about owning a South America-focused stock.
There's at least one such ticker, however, worth a look. MercadoLibre (NASDAQ: MELI) is defying the odds by growing in a market that shouldn't be driving much (if any growth. Here's the deal.
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The 'Amazon of Latin America' May Also Be the Market's Best-Kept Secret