4 Reasons to Buy MercadoLibre Stock Like There's no Tomorrow
Are you looking for a stock demonstrating phenomenal growth with incredible opportunities? One that's profitable and trades at a reasonable valuation? Then (NASDAQ: MELI) fits the bill. Read on to see why.
You might be surprised to learn that MercadLibre is almost as old as Amazon. However, its Latin American population didn't catch onto the internet as quickly as people did in the U.S. Only recently has MercadoLibre expanded its business into new areas that continue to supercharge its growth.
MercadoLibre's markets, or the 18 countries where it operates, are still underpenetrated in e-commerce and fintech. But its main markets are some of the fastest-growing in the world. . Revenue increased 42% year over year in the 2024 second quarter, with a 20% increase in gross merchandise volume (GMV) and a 36% increase in total payment volume (TPV). Currency neutral, those rates were much higher since MercadoLibre operates in different countries and reports as a public company in U.S. dollars.
Source Fool.com
Mercadolibre Inc Stock
The stock is an absolute favorite of our community with 30 Buy predictions and no Sell predictions.
With a target price of 1850 € there is a slightly positive potential of 1.11% for Mercadolibre Inc compared to the current price of 1829.6 €.
