MercadoLibre, Inc. Shares Were Decked Following This Report -- Here's Why

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.

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Source: Fool.com