1 Monster Growth Stock You'll Regret Not Buying on the Dip
The S&P 500 is still down about 12% this year, but there have been some signs of increasing health in the market. The S&P 500 is up 8% over the past month, and many companies have been reporting better-than-expected or healthy earnings results in the second quarter. Investors who were holding their breath are now breathing a little easier, and many stocks that plummeted at the beginning of the year are now creeping back up slowly.
That's wonderful for shareholders, but it also means that opportunities to buy on the dip are becoming more limited. MercadoLibre (NASDAQ: MELI) stock was down as much as 55% this year. After gaining 50% over the past month, it has now fallen 21% in 2022. This may be your last chance to buy this monster growth stock on the dip.
MercadoLibre, a Latin American e-commerce giant, demonstrated spectacular growth throughout the early stages of the pandemic, with several consecutive quarters of triple-digit revenue growth year over year. But although one might say its current performance has slowed down, high double-digit growth is hardly disappointing as the company faces tough comps from last year.
Source Fool.com
