's (NASDAQ: MELI) stock has soared nearly 60% this year. The Latin American e-commerce and fintech leader repeatedly impressed the bulls with its rapid growth rates, its expanding margins, and its soaring profits. But does it still have room to run? Let's review its business model, growth rates, and valuations to decide.

MercadoLibre operates its online marketplace in 18 Latin American countries, but it generates most of its gross merchandise volume (GMV, or the total value of all goods sold on its platform) in Brazil, Mexico, and its home market of Argentina.

It also deploys its own digital payments platform, Mercado Pago, to process payments for its own marketplace and third-party merchants. Mercado Pago serves as the foundation for MercadoLibre's other fintech services -- which include its Mercado Crédito loans, crypto trading services, and its own Mercado Coin digital currency.

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Source Fool.com