The Nasdaq's Surprise Winner on a Down Market Day
The stock market had an up-and-down day on Friday, and investors weren't able to get over uncertainties related to the coronavirus pandemic. As of 2:45 p.m. EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down, although it didn't lose as much ground as some broader-based market benchmarks. The Nasdaq 100 index also suffered modest losses.
Many of the stocks that have been investor favorites during the pandemic are joining the index in losing ground on Friday. However, there's one stock that many people haven't even heard of, but that's poised to benefit from the same trends now hitting its home region of the world that have helped its industry peers in the U.S. and elsewhere. That stock is MercadoLibre (NASDAQ: MELI), which is up almost 3% today as of 2:45 p.m. EDT in the down market, and it's found ways to grow even as COVID-19 cases have picked up dramatically in several countries in South America.
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Source Fool.com
