Is MercadoLibre (MELI) On The Cusp Of Explosive Growth?

MercadoLibre (the “Amazon of South America”) is a digital payment platform like PayPal, and it operates an online auction site that is very similar to eBay. Its stock MELI is heading towards the May low of $ 1296 as the price has continued to plummet since September 7. The decline in the last week alone amounted to 8.4%. On Tuesday, the worth was $1592.6, which by Monday dropped to $ 1458. Now it has a market cap of 72.545B.

This stock could boost your $ 250,000 to $ 1 million by 2030. There is a very specific reason to believe that MercadoLibre is on the cusp of explosive growth. According to the GSMA, representing the global communications industry, the number of mobile Internet users in South America will increase to 423 million by 2025, up from 343 million in 2019. And market research company Kagan forecasts that Latin American broadband connections will grow from 43.3% of households in 2020 to 55.3% by 2029. This will make it easier for MercadoLibre to communicate with consumers.