For those who have been holding shares of Latin American e-commerce and fintech business (NASDAQ: MELI) over the last five years: Congratulations, it's been an enriching ride. The stock is up roughly 200% during that time as its business has boomed.

MercadoLibre stock is up because the business has grown substantially. In the first quarter of 2019, the company's e-commerce platform had 18.8 million active buyers and merchandise volume of $3 billion. Five years later in the first quarter of 2024, it had 53 million active buyers and merchandise volume of over $11 billion.

There have been multiple catalysts for MercadoLibre in recent years, but one can't overlook how much more compelling the e-commerce platform is today compared to years past.

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Source Fool.com