anybody read the piece "questioning" meli rewvenue in Vz and Arg? I didn't but starting to regard Forbes as mouthpiece for shorts (look at LINE) altho I note short interest has dropped 25% from the march highs but still 20% of the float, almost 12 days to cover
we shall see if forbes article spearhead of new short attack in which case expect retest of recent low of 102?
it does contribute to negative sentiment that could snowball the effect of a "miss" (if it happens) which promotes the position of short hedgies like Off Wall Street
reminds me of some of the ploys described in "reminiscences of a stock operator" first published ninety years ago
beyond that, looking at the fundamentals- meli's current Q EPS growth estimated by analysts at 10%, same as the sp500 whereas SP500 PEG is 1.6 vs meli's 1.3- meli looks cheap relative to the mkt, at least for long term investors
well, at least IBD said Forbes said that although my other news feed is reporting that Barron's is citing the opinion of a short-selling hedge fund research company, Off Wall Street, who said meli could fall to 50 because they are over-reporting revenue in Vz and Arg at the official rate which, if reported at the market rate, would have cut earnigns 20% and lead to a much lower growth rate
well could see a 'sell now ask questions later" knee jerk from the market, althoguh yesterday's voluemof 750,000 only 1.5 x normal
There is no "new news" on what Barron's wrote about Vz & Arg Yelyacs!!!!!! operation costs will lower offsetting the devaluation........plus both countries don't add up to 40% of Meli's Business either!!!!!!
This is just a algorithmic short ploy before Earnings here in under 2 weeks!!!! A1 ..on the 29th in AH...you will see this going up 20% then in a week to follow it will be sitting in the 150's!