Recently, Zacks.com users have been paying close attention to MercadoLibre (MELI). This makes it worthwhile to examine what the stock has in store.
Wouldn't it be nice if investors had an "easy button" like the one that was featured in Staples commercials years ago? Unfortunately, the "easy button" doesn't exist. Actually, Amazon's stock has already begun a rebound, up more than 20% year to date after plunging nearly 50% in 2022.
High levels of inflation, rising interest rates, and concerns about weakening economic conditions this past year combined to create a challenging market backdrop for growth stocks. Spurred by 31.5% year-over-year growth for its e-commerce platform and a more-than-76% jump in transaction volumes for its payment-processing business, MercadoLibre's revenue rose 60.6% in the third quarter to reach $2.7 billion.