Here's My Top Growth Stock to Buy Right Now
The global economy is cooling, making growth investing intrinsically problematic. This is why I'm looking for growth investments with a high degree of safety. Consequently, MercadoLibre (NASDAQ: MELI) is my top growth stock to buy right now.
MercadoLibre is a safe stock, in my opinion. However, this doesn't mean the company is free of risk. We'll explore some of what's gone wrong recently. But I believe you'll agree there's still reason to own this stock.
MercadoLibre is an international stock and its biggest markets are Brazil, Argentina, and Mexico. And these economies have struggled in recent years. Bank of America just lowered its 2023 economic growth projections for Mexico from 1% growth to flat, according to Reuters. For its part, Brazil's economy was in recession in 2021. And even though it's officially over, the economy is still limping. Finally, Argentina's economy was in recession from 2018 through 2020. It rebounded in 2021, but problems remain.
Source Fool.com
