Is 1 of MercadoLibre's Strongest Headwinds Finally Turning Into a Tailwind for the Stock?
Twenty years ago, a younger version of myself strolled the streets of Buenos Aires in search of a place to eat. I finally found a promising spot selling milanesa de carne sandwiches for 2 pesos. I can't overstate the bargain. It was an incredible sandwich, and it only cost me about $0.66.
Back then, $1 was worth about three Argentine pesos. But today, $1 is worth nearly 900 pesos. In short, Argentine inflation has been relentless and detrimental to the country's economy for years, making life hard for many hard-working Argentinians.
It's hard for companies that do business in Argentina as well, which includes publicly traded (NASDAQ: MELI). The company does business in multiple countries today, including Brazil and Mexico. However, it was founded in Argentina it is still MercadoLibre's third-largest market today.
Source Fool.com
Mercadolibre Inc Stock
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
With a target price of 1792 € there is a slightly positive potential of 16.89% for Mercadolibre Inc compared to the current price of 1533.0 €.
