Coupang (NYSE: CPNG) and MercadoLibre (NASDAQ: MELI) represent two different ways to invest in the overseas growth of e-commerce. Coupang is the top e-commerce company in South Korea, and MercadoLibre is the e-commerce leader in Latin America. Both stocks hit all-time highs during the stimulus-induced buying frenzy in growth stocks in 2021. But as of this writing, Coupang and MercadoLibre have slumped about 66% and 45%, respectively, from those record levels.

Both companies lost their luster as investors fretted over a post-pandemic slowdown in e-commerce sales. Rising interest rates also drove investors away from higher growth stocks and deflated their valuations. But could either of these e-commerce stocks stage a comeback in 2023 and beyond?

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Source Fool.com