MercadoLibre stock is flying high off of a bombshell announcement.
MercadoLibre (MELI -1.27%) stock popped over 8% today on news from a Brazilian competitor. In the below video, I share this news and how it could impact MercadoLibre going forward. I also provide a background of the business, important growth demographics, valuation, and a chart to see where the stock could be headed next.
*Stock prices used were the afternoon prices of Jan. 12, 2023. The video was published on Jan. 12, 2023.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Eric Cuka has positions in Amazon.com, MercadoLibre, and Sea Limited. The Motley Fool has positions in and recommends Amazon.com, MercadoLibre, and Sea Limited. The Motley Fool has a disclosure policy. Eric Cuka is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel.
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