Why MercadoLibre Stock Is Soaring on Thursday
MercadoLibre (NASDAQ: MELI) reported second-quarter earnings after the market closed on Wednesday, beating Wall Street's expectations on both the top and bottom lines. As a result, shares rocketed higher on Thursday morning, gaining 12.6% as of 12:20 p.m. EDT.
MercadoLibre is the leading e-commerce and fintech platform in Latin America, one of the fastest-growing regions of the world in terms of internet penetration and online shopping. That advantage has been a significant tailwind in recent years, and MercadoLibre continued to gain momentum in the second quarter.
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Source Fool.com
