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Why MercadoLibre Stock Jumped 18% in May

TheMotleyFool 
0 0 04.06.24
Why MercadoLibre Stock Jumped 18% in MayPhoto, wide shot, wide-angle lens, Software company, sunset photo at golden hour, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/da273d82-9e59-413a-99b3-2b0094ff0854.png
 

Shares of MercadoLibre (NASDAQ: MELI) were soaring last month as the Latin American e-commerce leader delivered another strong earnings report, reassuring investors of its growth potential despite economic troubles in Argentina.

According to data from S&P Global Market Intelligence, the stock gained 18% last month. As you can see from the chart, the stock popped initially on the earnings report at the beginning of May, and then moved higher over the course of the month, in line with broader market trends.

MELI Chart

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Source Fool.com

Mercadolibre Inc Stock

€1,532.0
-0.820%
The price for the Mercadolibre Inc stock decreased slightly today. Compared to yesterday there is a change of -€12.600 (-0.820%).
With 36 Buy predictions and not a single Sell prediction Mercadolibre Inc is an absolute favorite of our community.
As a result the target price of 2294 € shows a positive potential of 49.74% compared to the current price of 1532.0 € for Mercadolibre Inc.
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