This Stock Hasn't Been This Cheap Since the Great Recession
Each bear market has its own causes and fears; the one we're in now is driven by the fear of a weakening consumer and rising interest rates. However, it's nowhere near as dire as the Great Recession bear market experienced during 2008 and 2009. Back then, the market was concerned about the potential collapse of the U.S. financial system. To me, that seems a bit scarier than the current market environment.
Still, that hasn't stopped the market from sending one of my top stocks down to the same valuation it experienced in 2009. MercadoLibre (NASDAQ: MELI), the Latin American e-commerce giant, has been aggressively sold off despite not operating in the U.S., where the economic fears are concentrated. As a result, this stock may be one of the best values in the market right now. Read on to find out why.
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Source Fool.com
