If you're looking to take advantage of the market crash, look no further than MercadoLibre and Figs.
Shares of several Latin American tech stocks struggled today along with the broader market, as investors continued to fret about volatility and the potential for a more severe recession in the near future. Shares of the Uruguayan online marketplace MercadoLibre (NASDAQ: MELI) fell more than 4% today, shares of the Brazilian e-commerce tech company StoneCo (NASDAQ: STNE) fell roughly 7.5%, and shares of the Brazilian digital bank Nu Holdings (NYSE: NU) fell 7.4%. Tech stocks continued their recent struggles, with the Nasdaq Composite falling roughly 2.85%.
Here's why: The stock market has always recovered after a downturn. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is square in the crosshairs of a recession. With more than 80% of its business coming from advertisement sources, revenue growth will be challenging in a recession.