Here's Why MercadoLibre Stock Is Soaring Today
The stock market is continuing its post-election rally today, with all three major averages in the green, and the tech-heavy Nasdaq up by 2.5% at 10 a.m. EST. However, MercadoLibre (NASDAQ: MELI) is doing even better, with shares rising more than 7% after the Latin America e-commerce company reported its third-quarter earnings.
To say that MercadoLibre's third-quarter results were good would be a major understatement. On the top and bottom lines, the company handily exceeded revenue and earnings projections, but that doesn't tell the whole story.
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Source Fool.com
