Why MercadoLibre Stock Gained 16% Last Month

Shares of MercadoLibre (NASDAQ: MELI) were climbing last month as the Latin American e-commerce operator continued to benefit from pandemic-related tailwinds. Data showed that e-commerce sales surged in the region, and the company received some positive analyst chatter. According to data from S&P Global Market Intelligence, the stock rose 16% in June.

As you can see from the chart below, most of the stock's gains came during the middle of the month.

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Source Fool.com