Why MercadoLibre Stock Jumped 18% in May
Shares of MercadoLibre (NASDAQ: MELI) were soaring last month as the Latin American e-commerce leader delivered another strong earnings report, reassuring investors of its growth potential despite economic troubles in Argentina.
According to data from S&P Global Market Intelligence, the stock gained 18% last month. As you can see from the chart, the stock popped initially on the earnings report at the beginning of May, and then moved higher over the course of the month, in line with broader market trends.
Source Fool.com
Mercadolibre Inc Stock
€1,783.8
-4.460%
With 35 Buy predictions and not a single Sell prediction Mercadolibre Inc is an absolute favorite of our community.
As a result the target price of 1956 € shows a slightly positive potential of 9.65% compared to the current price of 1783.8 € for Mercadolibre Inc.
