Could MercadoLibre Be a Millionaire-Maker Stock?
If you're like me, you missed the more than 1,500% run in MercadoLibre (NASDAQ: MELI) stock over the last decade. While there have been plenty of other investments that have provided massive upside, Latin America's e-commerce and digital payments leader has been an especially big winner as the digital age sweeps across the globe.
As much as it's grown, though, MercadoLibre's current market capitalization values it at just shy of $41 billion -- a large business to be sure but not so large that it's run out of stock market-beating potential. It likely won't turn an investor into a millionaire all by itself at this point, but there is plenty left to like about this stock.
MercadoLibre operates in 18 countries in Latin America, and based on visits to its online marketplace, it ranks as the largest consumer-centric e-commerce site in each of those countries. Latin America has about 650 million residents, so there's no shortage of potential customers. While online retail has grown all but ubiquitous in the U.S. (although even there it's still a high-growth industry), access to and use of the internet is rising fast south of the border.
Source Fool.com
