Is MercadoLibre a Buy?
Latin American e-commerce giant MercadoLibre (NASDAQ: MELI) recently reported earnings for its second quarter of 2021. Investors liked what they saw, and the stock jumped 15% in a short amount of time.
It can feel like "chasing" when you buy a stock after a large jump in price, but here are three reasons why MercadoLibre may still have more upside ahead.
MercadoLibre posted 2021 second-quarter revenue of $1.7 billion and earnings per share of $1.37, beating analyst expectations by 15% and 637%, respectively. Revenue grew 102% year over year (not factoring in currency exchange rates), which is impressive considering that the company was coming off of strong growth in 2020 due to the COVID pandemic.
Source Fool.com
