Mercadolibre Inc (Nasdaq:MELI) Breaks 52 Week High Bar Of $634.00

Mercadolibre Inc (Nasdaq:MELI)

June 11th, 2019

Amidst falling markets Mercadolibre Inc fell ($3.16) Tuesday, down 0.51%, closing at $613.30. Despite the drop in price it hit a new 52 week high of $634.00. While the stock did drop today, remember that it is still trading at 138.16% of its 52 week low of $257.52.

MELI was outperformed by the rest of the Consumer Discretionary sector which went up 0.33%.

Mercadolibre Inc is listed on NASDAQ 100, and was one of 55 stocks that slumped today. Weighted by market cap, MELI represents about 0.12% of NASDAQ 100.

Forecasts from 19 analysts indicates that Mercadolibre Inc could drop somewhat (-4.60%), while Finbox has calculated (with high uncertainty) a fair value price of $484.73.

Market Sectors

The market sectors were mixed Tuesday with a majority of the sectors trending up. Consumer Staples saw the biggest increase of the day (0.41%), while the Industrials sector saw the biggest drop (-0.90%). Information Technology has seen the biggest year-to-date gain of 23.75%.

Industrials and Utilities experienced turn-arounds from their five day positive performances with Industrials dropping -0.90%.

Sector Breakdown

  • Consumer Staples, up 0.41%.
  • Consumer Discretionary, up 0.33%.
  • Communication Services, up 0.29%.
  • Real Estate, up 0.18%.
  • Energy, up 0.12%.
  • Information Technology, up 0.02%.
  • Financials, stayed even 0.00%.
  • Materials, down -0.07%.
  • Healthcare, down -0.25%.
  • Utilities, down -0.69%.
  • Industrials, down -0.90%.

Mercadolibre Inc Info

MercadoLibre, Inc. operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale. The company also offers MercadoFondo, an asset management product; and MercadoCredito, a lending solution. In addition, it provides MercadoEnvios logistics solution, which offers its platform technological and operational integration services with third-party carriers and other logistics service providers, as well as fulfillment and warehousing services for sellers. Further, the company provides MercadoLibre Classifieds service that enables users to list their offerings related to motor vehicles, vessels, aircraft, and real estate and services outside the Marketplace platform. Additionally, it offers MercadoLibre Advertising platform, which enables retailers and various other consumer brands to promote their products and services on the Internet by providing branding and performance marketing solutions. The company also provides MercadoShops, a software-as-a-service hosted online store solution that enables users to set-up, manage, and promote their own Webstores. The company was founded in 1999 and is headquartered in Buenos Aires, Argentina.

All amounts in USD unless otherwise indicated

MELI daily update
MELI daily update

Via UnSplash

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