Why MercadoLibre Stock Climbed 11% in November
Shares of MercadoLibre (NASDAQ: MELI) gained 11.3% last month, according to data provided by S&P Global Market Intelligence. The "eBay of Latin America" has turned into a Wall Street darling over the last year, reaching a high of over $600 per share before taking a breather in recent months.
When a company posts a surprise loss and the stock price is soaring like that, there are bound to be concerns about valuation for any growth stock, but the latest quarterly earnings report gave investors plenty more to be bullish about.
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Source Fool.com
