Why MercadoLibre Stock Lost 21% Last Month
Shares of MercadoLibre (NASDAQ: MELI), the Latin American e-commerce operator, were sliding last month in tandem with the coronavirus-related sell-off. Though there was no specific news out on the company, investors saw the spreading pandemic, which is just starting to affect Latin America, as a concern for the high-priced growth stock . According to data from S&P Global Market Intelligence, the stock finished the month down 21%.
The stock tracked close to the S&P 500 for much of the month.
Source Fool.com