Why MercadoLibre Stock Skyrocketed 20% in April
(NASDAQ: MELI) stock jumped 20% in April, according to data provided by S&P Global Market Intelligence. The Latin American e-commerce giant is already a top growth stock, and it's looking even finer since the tariff program roiled the markets because it operates outside of the U.S.
MercadoLibre is an e-commerce giant in 18 Latin American countries. It has been growing at high double-digits since slowing down from triple-digit growth early in the pandemic, but its regions are still underpenetrated in e-commerce, and it has a vast runway. It's also using its website as an advertising and media platform, where it sees tremendous potential as full business on its own.
Image source: Getty Images.
Source Fool.com
Mercadolibre Inc Stock
€1,550.2
0.260%
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
With a target price of 2365 € there is a hugely positive potential of 52.56% for Mercadolibre Inc compared to the current price of 1550.2 €.
