MercadoLibre, Inc. Shares Were Decked Following This Report -- Here's Why
Shares of MercadoLibre (NASDAQ: MELI), an online commerce platform throughout Latin America, plunged as much as 12% during Thursday's trading session, after a report surfaced that Amazon.com (NASDAQ: AMZN) may expand its presence in Brazil.
Chalk up another company that's been "Amazoned." According to Brazilian newspaper Valor Economico, Amazon may be gearing up to launch into new markets in Brazil within the week. Its launch could include books and electronics, although the product categories it caters to could grow in the months to come.
Image source: Getty Images.
Source: Fool.com
Amazon.com Inc. Stock
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As a result the target price of 191 € shows a slightly positive potential of 11.96% compared to the current price of 170.6 € for Amazon.com Inc..
