How MercadoLibre Shares Rose 46% Last Month
Shares of MercadoLibre (NASDAQ: MELI) gained 46% in May 2020, according to data from S&P Global Market Intelligence. The surge hinged on a great first-quarter earnings report, which sent the stock 20% higher in a single day.
The leading e-commerce specialist in Latin America saw the bottom line swing from earnings of $0.13 per share to a net loss of $0.44 per share, but that was still better than the $0.48 loss per share that the analyst consensus was pointing to. More to the point, MercadoLibre's sales jumped 38% higher year over year to $652 million. Here, your average analyst would have settled for $634 million.
MercadoLibre started to see headwinds from the COVID-19 health crisis in March. The company was quick to let 9,000 employees work from home, and the MercadoLibre logo changed from a handshake to an elbow-to-elbow greeting in order to strengthen the social distancing idea. A new branding campaign centered around the slogan, "Stay at home, we are still delivering."
Source Fool.com
