Why Did MercadoLibre Stock Pop -- Then Drop?
MercadoLibre (NASDAQ: MELI) stock, the "Latin Amazon.com," jumped nearly 5% in early trading Thursday before turning tail and giving back almost all its gains. (As of 11:30 a.m. ET, MercadoLibre is up only about 0.5%.)
It's no secret why MercadoLibre popped -- Wall Street analyst Marcelo Santos at JPMorgan Chase upgraded the stock to "overweight" this morning. The question is: Why did MercadoLibre stock then drop again?
Image source: Getty Images.
Source Fool.com
Mercadolibre Inc Aktie
1.415,2 €
-1,08 %
Absolute Beliebtheit: Mercadolibre Inc hat nur Buy-Einschätzungen.
Das Kursziel von 2363 € für Mercadolibre Inc signalisiert eine mögliche Steigerung von über 50% gegenüber 1415.2 €.
