It's been a year to forget for MercadoLibre (NASDAQ:MELI).
Latin American e-commerce powerhouse has weathered severe devaluations of the currencies in two of its most important markets -- Argentina and Venezuela. Compounding MercadoLibre's recent headaches, online auction and payment behemoth eBay (NASDAQ:EBAY) has announced that it's entering 19 markets throughout Latin America, adding to the prospect that the business' most established competitor will put MercadoLibre on the defensive on its own turf.
Never fear, MercadoLibre investor
eBay's potential competitive presence in a market that MercadoLibre's long dominated is not to be overlooked. Neither, though, are the struggling economies that have helped fuel MercadoLibre's prodigious growth in the past.
As eminently long-term investors, we Fools prefer to analyze a business' investment prospects in years, and not months. And in that time frame and beyond, MercadoLibre remains a highly attractive company, especially at today's prices.
So while eBay might have its eyes set on Latin American dominance at MercadoLibre's expense and foreign exchange issues might linger for some time, as tech and telecom specialist Andrew Tonner discusses in the following video, MercadoLibre remains a worth a look for tech investors today.