Why MercadoLibre Stock Is Sinking This Week
Leading Latin American e-commerce and fintech titan MercadoLibre (NASDAQ: MELI) is down 10% this week as of 3 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence.
This decline stems from a major news outlet and numerous analysts reiterating concerns for the company as Amazon launches its most aggressive expansion in Brazil (MercadoLibre's largest market) yet.
Amazon announced that it would waive all fulfillment by Amazon (FBA) logistics fees and take rates on FBA orders for new Brazilian merchants through the holiday season.
Source Fool.com
Mercadolibre Inc Stock
€1,630.6
-0.330%
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 42.22% for Mercadolibre Inc compared to the current price of 1630.6 €.
