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.
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Source Fool.com
Mercadolibre Inc Stock
€1,556.8
0.690%
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 51.91% for Mercadolibre Inc compared to the current price of 1556.8 €.
