On August 25, MercadoLibre rose 3.05% in regular trading, trading around $2,007.27 per share, with turnover of $3.82 billion.
On the news front, the rally was driven by a dual catalyst: renowned investor Michael Burry recently updated his portfolio to include MercadoLibre as a long position, calling it the Amazon of Brazil, Mexico, and Argentina. Burry's broader portfolio shows a distinct long-short hedging profile, with increased short bets on the technology sector while selectively adding long exposure to names like MercadoLibre.
Simultaneously, the company's Q2 earnings significantly exceeded expectations. Revenue came in at $10.2 billion versus consensus estimates of $9.667 billion, representing approximately 50% year-over-year growth and marking the first time quarterly revenue surpassed the $10 billion milestone. EPS of $9.19 beat the $8.58 estimate by over 7%. Management emphasized that deep user engagement continues to build competitive moats, while the CEO reiterated that the company prioritizes long-term value propositions over short-term growth adjustments.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)