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 April 18, 2024, MELI stock price declined to $1,370.25 with 363,219 million shares trading.

MELI has a beta of 1.45, meaning it tends to be more sensitive to market movements. MELI has a correlation of 0.23 to the broad based SPY ETF.

MELI has a market cap of $69.47 billion. This is considered a Large Cap stock.

Last quarter Mercadolibre reported $4 billion in Revenue and $3.25 earnings per share. This beat revenue expectation by $141 million and missed earnings estimates by -$3.83.

In the last 3 years, MELI stock traded as high as $1,970.13 and as low as $600.69.

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

MELI has underperformed the market in the last year with a price return of +4.2% while the SPY ETF gained +22.3%. MELI has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -16.2% and -9.0%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

MELI support price is $1,372.92 and resistance is $1,422.80 (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 stock will trade within this expected range on the day.