Why Did MercadoLibre Stock Pop -- Then Drop?
MercadoLibre (NASDAQ: MELI) stock, the "Latin Amazon.com," jumped nearly 5% in early trading Thursday before turning tail and giving back almost all its gains. (As of 11:30 a.m. ET, MercadoLibre is up only about 0.5%.)
It's no secret why MercadoLibre popped -- Wall Street analyst Marcelo Santos at JPMorgan Chase upgraded the stock to "overweight" this morning. The question is: Why did MercadoLibre stock then drop again?
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Source Fool.com
Mercadolibre Inc Stock
€1,646.2
1.030%
The stock is an absolute favorite of our community with 39 Buy predictions and no Sell predictions.
With a target price of 2319 € there is a positive potential of 40.87% for Mercadolibre Inc compared to the current price of 1646.2 €.
