MercadoLibre (“MELI”) – The Investor Weekly Stock Report
MELI is down about 43% over the past month. And it has been beaten down about 20% since January 01, 2022. The selloff is really the result of a broader tech selloff due to fears of slowing growth and various macro factors. MELI is at its lowest Price / Sales ratio in five years (~8.0x). And I expect strong growth over the next three to five years. I believe the company is a good buy all the way to its traditional 10-12x Price/Sales ratio that it has historically had.