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Here's What Made MercadoLibre Investors Nervous on Tuesday

TheMotleyFool

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Here's What Made MercadoLibre Investors Nervous on Tuesday

Shares of MercadoLibre (NASDAQ: MELI) fell coming out of the gate on Tuesday, tumbling as much as 7.2%. At 10:57 p.m. EST, the stock was down 6.5%.

The Latin American e-commerce and fintech powerhouse announced a secondary stock offering that left investors nervous.

After the market close on Monday, MercadoLibre announced a sizable equity offering. In a regulatory filing with the Securities and Exchange Commission, the company said it will offer 1 million shares of its common stock while also giving underwriters to option to purchase 150,000 additional shares.

Source Fool.com

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