Why MercadoLibre Shares Gained 16% Last Month
Shares of Latin American e-commerce giant MercadoLibre (NASDAQ: MELI) rose 15.9% in January, according to data from S&P Global Market Intelligence. The climb was powered by rosy analyst comments, which in turn were based on a new partnership that could be a game changer in the long run.
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Having signed a close partnership with American digital payments specialist PayPal (NASDAQ: PYPL) at the very end of December, MercadoLibre started the year with a flurry of bullish analyst notes based on that deal. Heading into this evening's fourth-quarter earnings report, the positive analyst chatter never really stopped.
Source Fool.com
