Is MercadoLibre a Buy?
Some might think that shares of MercadoLibre (NASDAQ: MELI) would be up, not down, amid the coronavirus outbreak. After all, the company is the dominant e-commerce platform in Latin America, with a strong leading position in Brazil, Argentina, and Mexico, while serving smaller countries as well. In the age of the COVID-19 outbreak, one would think e-commerce would be surging, boosting MercadoLibre's shares along with it.
Instead, MercadoLibre's stock is off about 25% from its recent all-time highs set back in February. That's in contrast to some other global e-commerce companies that have held up much better. So what gives, and does MercadoLibre's recent discount make it a buy?
MercadoLibre is as much about payments as e-commerce. Image source: Getty Images.
Source Fool.com
