|Bid||1,123.24 x 900|
|Ask||1,120.20 x 800|
|Day's Range||1,090.74 - 1,267.00|
|52 Week Range||422.22 - 1,267.00|
|Beta (5Y Monthly)||1.71|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 05, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 28, 2017|
|1y Target Est||924.95|
For a long time now, the Nasdaq Composite (NASDAQINDEX: ^IXIC) has been the ascendant stock market benchmark, dramatically outperforming its peers. One culprit that the Nasdaq is fighting against is an extremely high bar for many fast-growing companies listed on the stock exchange to overcome. Shares of MercadoLibre dropped almost 6% Monday following the online retailer's second-quarter financial results.
MercadoLibre (NASDAQ: MELI) reported its second-quarter results before the market opened on Monday, and a surge in e-commerce growth helped the platform shatter already high expectations. The company reported revenue that grew 123% year over year in local currencies to $878.4 million, as businesses in Latin America pivoted online in the face of the pandemic. MercadoLibre also reported net income of $55.9 million, resulting in earnings per share (EPS) of $1.11, up more than 258%.
What happened Shares of MercadoLibre (NASDAQ: MELI) have plunged today, down by 8% as of 12:20 p.m. EDT, after the company reported second-quarter earnings. The results topped expectations, but investors may have been pricing in an even stronger performance following the stock's recent rally to all-time highs.