MELI Stock Summary and Trading Ideas (Mercadolibre | NASDAQ:MELI)

MercadoLibre runs the largest e-commerce marketplace in Latin America, with more than 218 million active users and 1 million active sellers across 18 countries stitching into its commerce network or fintech solutions as of the end of 2023. The company operates a host of complementary businesses to its core online shop, with shipping solutions (Mercado Envios), a payment and financing operation (Mercado Pago and Mercado Credito), advertisements (Mercado Clics), classifieds, and a turnkey e-commerce solution (Mercado Shops) rounding out its arsenal. MercadoLibre generates revenue from final value fees, advertising royalties, payment processing, insertion fees, subscription fees, and interest income from consumer and small-business lending.

Mercadolibre trades on the NASDAQ stock market under the symbol MELI.

As of November 13, 2024, MELI stock price declined to $1,930.95 with 444,551 million shares trading.

MELI has a beta of 0.73, meaning it tends to be less sensitive to market movements. MELI has a correlation of 0.06 to the broad based SPY ETF.

MELI has a market cap of $97.89 billion. This is considered a Large Cap stock.

Last quarter Mercadolibre reported $5 billion in Revenue and $7.83 earnings per share. This beat revenue expectation by $42 million and missed earnings estimates by -$2.76.

In the last 3 years, MELI traded as high as $2,161.73 and as low as $600.69.

The top ETF exchange traded funds that MELI belongs to (by Net Assets): QQQ, QQQM, JEPQ, VCR, ARGT.

MELI has outperformed the market in the last year with a return of +40.5%, while the SPY ETF gained +37.1%. However, in the most recent history, MELI shares have underperformed the stock market with its stock returning +1.5% in the last 3 month period and -4.7% for the last 2 week period, while SPY has returned +12.3% and +2.7%, respectively.

MELI support price is $1,942.12 and resistance is $2,012.66 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MELI shares will trade within this expected range on the day.