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July 6, 2020Blog Posts

MercadoLibre Tops $50 Billion in Value Amid E-Commerce Boost

Bloomberg

Shares of Latin America’s largest e-commerce marketplace MercadoLibre Inc. climbed above $1,000 for the first time as online sales surge in the region amid the coronavirus pandemic.

Up 78% this year, MercadoLibre has benefited from a growing number of consumers that are either buying online for the first time or increasing the frequency of their purchases because of virus-related lockdowns. The company said gross merchandise volume growth accelerated to 73% in April and UBS Group AG pointed to even stronger figures for the industry in May, citing data from Nielsen’s e-commerce researcher Ebit.

“Recent sector data makes us more confident that Brazilian e-commerce growth could deliver on high expectations,” UBS Group analysts led by Gustavo Piras Oliveira wrote in a report dated June 3, reaffirming MercadoLibre as their top pick in the sector and raising the stock’s price target to $1,040.

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MercadoLibre Puts the Customer Experience First to Expand Its ...

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