Why MercadoLibre Stock Took a Dive Today
Shares of MercadoLibre (NASDAQ: MELI) were sliding today as a narrowing gross margin and expectations of slowing growth seemed to overshadow a strong quarter. The company's reported profit was also impacted by a one-time tax liability.
As a result, the stock was trading down 12.9% as of 10:31 a.m. ET.
Source Fool.com