Why MercadoLibre Stock Crashed Today
Shares of Latin American e-commerce giant MercadoLibre (NASDAQ: MELI) fell as much as 12.5% on Monday. Investors backed away from the stock as the novel coronavirus expanded its spread over South and Central America.
According to a Reuters report, the coronavirus claimed its first Latin American victim over the weekend after one patient died in Argentina. The number of reported infections in Costa Rica nearly doubled from five to nine, and the first cases of the COVID-19 respiratory illness were seen in Colombia, Paraguay, Peru, and Chile. MercadoLibre's investors are starting to worry about how the disease might affect consumers and small businesses in Latin America.
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Source Fool.com
