MercadoPago: The Real Reason MercadoLibre Stock Has Soared
MercadoLibre (NASDAQ: MELI) went public in 2007. The owner of an online marketplace to connect buyers and sellers, it was touted as the "eBay of Latin America." At the end of the first day of trading, it was valued at $1.3 billion.
More than a decade later -- Christmas Eve of last year, to be exact -- it's market cap stood at $11 billion. That's a solid return.
What has happened over the last nine months, however, has been a sight to behold: MercadoLibre has almost tripled in valuation to over $30 billion. And it might just be the start of things to come.
Source Fool.com
