Down 36% in 2022, Is Mercadolibre a Buy for 2023?

With the market on track to end 2022 with a loss, many investors are fearful, but also hopeful, about what will happen next.

The S&P 500 has posted a loss in six of the past 25 years, not including this year, which is less than a quarter of the total. Of those loss years, three were in a row, and the others rebounded between 9.5% and 29% the year after. The S&P 500 is down about 17% this year, which would be the third-worst loss in the past 25 years. Although there are no guarantees for 2023, based on how the market typically works, it's likely to rebound next year.

In other words, as uncomfortable as it feels to see your portfolio in the negative, it's important to keep in mind that the pain should be temporary. Even more, you can view the end of the year as a time to find great opportunities to buy stocks that should soar when the market returns to growth. MercadoLibre (NASDAQ: MELI) is one top stock down about 36% this year, and you should consider buying it before it shoots back up.

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Source Fool.com