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Why MercadoLibre Stock Just Sold Off

TheMotleyFool

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Latin American e-commerce star MercadoLibre (NASDAQ: MELI) had a fantastic first quarter of 2022, reporting 67% revenue growth powered by barnburning growth in the company's newish fintech business, where sales more than doubled year over year.

On Friday that news sent MercadoLibre shares shooting as much as 8% higher, but it didn't take long for things to turn south. MercadoLibre stock plummeted on Monday, recovered only a bit on Tuesday, and at noon ET on Wednesday, MercadoLibre was down again -- falling 6.4%.

The question is: Why?

Source Fool.com

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