Mercadolibre (MELI) in Focus: Stock Adds 8.8% in Session
Mercadolibre, Inc.MELI was a big mover last session, as the company saw its shares rise roughly 9% on the day. The move came on the company's announcement of impressive third-quarter 2015 results on Nov 4. This led to solid volume with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 22.6% in the last one month.
The company has seen 1 negative revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday's move higher can last.
Mercadolibre currently has a Zacks Rank #4 (Sell).
A better-ranked Internet commerce stock is Travelport Worldwide Limited TVPT , sporting a Zacks Rank #1 (Strong Buy).
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