MercadoLibre (MELI) Stock Dips Amid Brazil Competition – Analysts Eye Long-Term Upside
MercadoLibre shares fell about 5.1% to $2,048 at midday Oct. 15, extending a drop from late September highs near $2,500. Q2 revenue rose 34% to $6.8 billion, but net income missed estimates due to margin pressure and currency losses. The company is expanding into B2B e-commerce and Brazil’s pharmacy sector. MercadoPago’s credit portfolio nearly doubled year-over-year, though lending is tightening in Brazil and Mexico.