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Keep an Eye on These 2 Stocks That Fell on Monday

By Jose Najarro – Sep 28, 2021 at 10:46AM

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One is an e-commerce giant in Latin America; the other is an identity authentication platform.

MercadoLibre (MELI 1.08%) and Okta (OKTA 26.46%) saw a dip in their stock prices on Monday, which could provide investors the opportunity to buy in at a lower price. Today's video focuses on recent news affecting the companies, their current valuations, and future opportunities. Here are some highlights from the video.

  1. During its most recent earnings report, for its second quarter of 2021, MercadoLibre showed strong year-over-year growth. The company reported unique active users grew 47%, gross merchandise volume grew 39%, and revenue grew 94%, driven by growth from its fintech and e-commerce business.
  2. For Okta's second-quarter 2021 earnings, the company reported 57% YOY revenue growth and 58% YOY subscription revenue growth. Okta also expects roughly 50% growth for its third quarter and its full fiscal year. After earnings, numerous analysts upgraded their price targets on Okta. 
  3. The market continues to be very volatile, with rising yield rates, the tech stock sell-off, and numerous international issues. Long-term investors should be prepared for this volatility to continue and the possibility of more red days. One of my favorite methods to be able to work around the volatility is dollar-cost averaging

Click the video below for my full thoughts. 

*Stock prices used were the closing prices of Sept. 27, 2021. The video was published on Sept. 27, 2021.

Jose Najarro owns shares of MercadoLibre and Okta. The Motley Fool owns shares of and recommends MercadoLibre and Okta. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Stocks Mentioned

MercadoLibre Stock Quote
$941.01 (1.08%) $10.03
Okta Stock Quote
$67.43 (26.46%) $14.11

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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