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Did Coronavirus Fears Push MercadoLibre Stock Higher Today?

TheMotleyFool

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Did Coronavirus Fears Push MercadoLibre Stock Higher Today?

Shares of Latin America's MercadoLibre (NASDAQ: MELI) surged higher on Monday, and there was no clear catalyst. The stock finished 8% higher for the day without a press release or a filing with the Securities and Exchange Commission.

But it's possible that renewed coronavirus fears have investors betting on MercadoLibre, and that certainly worked out well earlier this year. The stock is up 87% year to date, and up 140% from where shares hit bottom on April 1.