1 Magnificent Growth Stock That Could Turn $200,000 Into $1 Million in a Decade

Latin American e-commerce giant (NASDAQ: MELI) delivered a strong first-quarter earnings report last week. Revenue climbed 35% to $3 billion and earnings skyrocketed 205% to $3.97 per diluted share. Those results are particularly impressive in light of the challenging economic environment, but MercadoLibre still has a long runaway for growth.

Latin America has one of the fastest-growing internet penetration rates in the world, paving the way for strong consumer adoption of e-commerce and digital payments, as well as corporate adoption of digital advertising. Those tailwinds could translate into fivefold returns for MercadoLibre shareholders over the next decade. That means $200,000 invested in the stock today could be worth $1 million by 2033.

Here's what investors should know.

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Source Fool.com