The Real Reason Behind MercadoLibre Stock's Wild Success
MercadoLibre (NASDAQ: MELI) has been one of the few e-commerce companies that have held up relatively well during this stock market downturn. While e-commerce stocks around the world have fallen by 40%, 50%, or even 80% year to date, MercadoLibre is down a little more than 30% over the same period. That's a better performance than even Amazon (NASDAQ: AMZN), which has fallen 45% this year.
What's the reason behind MercadoLibre's relative resiliency? The key could be the company's top-line growth. While many e-commerce companies have seen top-line expansion slow and even halt, 2022 has been remarkable for MercadoLibre: Year-over-year revenue growth has remained above 40% this year.
The primary driver behind this Latin American company is not its e-commerce side but its exciting fintech business, Mercado Pago. Here's why long-term investors should get excited about the potential Pago has to offer.
Source Fool.com
