MercadoLibre (NASDAQ: MELI) is not exactly a household name in the U.S. However, many who engage in e-commerce south of the border approach this company as Americans do Amazon. As Latin America's leading e-commerce platform, it operates in 18 countries spanning from the company's base in Argentina to Mexico.
Now, a recovery from March lows has taken MercadoLibre stock to new all-time highs. Given this recent trading, the question for investors hinges on whether MercadoLibre is due for a pullback or if it has room to move higher.
MercadoLibre acts as a sort of hybrid of eBay and PayPal, serving as both an online marketplace and payments facilitator. Not only does MercadoLibre sell its own items, it can also serve as a storefront for small enterprises across Latin America to operate their own e-commerce businesses.