Market downturns are part and parcel of investing, but no one said they were easy to get through. With prices falling around you, it can be tough to decide which investments merit your attention and which you should just discard and move on. However, if the selection is made right, you can feel confident that the business can not only withstand tough business conditions but also deliver impressive returns once the economy has found its footing again.

MercadoLibre (NASDAQ: MELI) is one growth stock you can buy and hold without worry. The e-commerce cum digital payments firm has only continued to grow throughout the pandemic and has also demonstrated that it can expand its range of services to garner more customers. The company is the largest e-commerce outfit in Latin America, and its reputation and track record should enable it to continue dominating the digital landscape in the region.

Let's look at what makes MercadoLibre such a compelling stock to own.

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Source Fool.com