Why MercadoLibre Stock Fell 19.8% in November
Shares of Latin American e-commerce and fintech leader MercadoLibre (NASDAQ: MELI) declined 19.8% in November, according to data from S&P Global Market Intelligence. While MercadoLibre reported third-quarter earnings during the month, that doesn't seem to be the culprit behind the fall, as the stock rose immediately after reporting.
Rather, an unexpected mid-month equity offering started the decline, which was later accentuated by a sharp drop in growth stocks brought on by tightening financial conditions.
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Source Fool.com
