MercadoLibre Stock Plummets on Fabulous Earnings -- What Gives?
After a stellar first-quarter earnings report, Latin American e-commerce leader Mercadolibre, Inc. (NASDAQ: MELI) had been riding the tailwinds of its success. The stock had risen an incredible 100% year-to-date on the back of the region's growing adoption of online sales and the company's leadership position in the space.
The market wasn't at all pleased with the results, sending the stock down near 10% as of this writing. The results improved on recent results in many key aspects, so what is causing investors flight from the stock? Read on to find out what happened and why I think the market got it wrong.
No problem with the e-commerce, what's up with the stock? Image source: MercadoLibre.
Source: Fool.com
Mercadolibre Inc Stock
€1,502.8
-0.480%
The stock is an absolute favorite of our community with 23 Buy predictions and no Sell predictions.
With a target price of 1792 € there is a slightly positive potential of 19.24% for Mercadolibre Inc compared to the current price of 1502.8 €.
