Widely regarded as Latin America’s answer to Amazon (AMZN), MercadoLibre (MELI) rode the e-commerce pandemic-led tailwinds last year. Sales and profits soared pushing MELI’s stock price from less than $500 per share to a 52-week high of $2,020. However, MELI is now trying to recover, together with other top performing pandemic plays, following a tremendous pullback last month that saw the stock fall over 30% from its highs. Now, as the shares settle around the $1,400 mark, investors are wondering what to expect going forward.
https://www.tipranks.com/news/article/as-the-shift-away-from-pandemic-plays-continues-mercadolibre-could-see-another-pullback