Why MercadoLibre Can Double Again
The stock market has performed well this year. For instance, the S&P 500's year-to-date return is more than 25%. However, some stocks have performed even better, one of which is MercadoLibre (NASDAQ: MELI). Shares of the Latin America-focused e-commerce giant are up nearly 100%, vastly outperforming the S&P 500.
Despite this impressive performance, there are several reasons to think the company can go much higher. Let's consider one of those reasons.
MercadoLibre is best known for its e-commerce platform, and with good reason: The company operates the largest such platform in South America. During the third quarter, MercadoLibre sold 98 million items, a 17.3% year-over-year increase, while its gross merchandise volume -- the total dollar amount of items sold on its platform -- was $3.6 billion, about 22 percentage points higher than the year-ago period. Furthermore, unique buyers and live listings both increased, by 25.7% and 44.5% respectively.
Source Fool.com
