Commodity Channel Index
|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||988.46 - 1,023.48|
|52 Week Range||422.22 - 1,035.58|
|Beta (5Y Monthly)||1.69|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 28, 2017|
|1y Target Est||810.71|
(Bloomberg) -- Shares of Latin America’s largest e-commerce marketplace MercadoLibre Inc. climbed above $1,000 for the first time as online sales surge in the region amid the coronavirus pandemic.Up 78% this year, MercadoLibre has benefited from a growing number of consumers that are either buying online for the first time or increasing the frequency of their purchases because of virus-related lockdowns. The company said gross merchandise volume growth accelerated to 73% in April and UBS Group AG pointed to even stronger figures for the industry in May, citing data from Nielsen’s e-commerce researcher Ebit.“Recent sector data makes us more confident that Brazilian e-commerce growth could deliver on high expectations,” UBS Group analysts led by Gustavo Piras Oliveira wrote in a report dated June 3, reaffirming MercadoLibre as their top pick in the sector and raising the stock’s price target to $1,040.The Buenos Aires-based company, which counts Brazil as its largest market and has been focusing on consumer packaged goods, saw its market value jump to a record $50 billion, compared to $39 billion for EBay Inc. The stock gained as much as 4.8% to $1,036 in New York.Even as some countries start to ease their social-distancing measures, Bank of America Corp. believes the tailwinds will last for longer. “While some expect a channel reversion to physical retail as malls and stores re-open, we think behaviors are likely to prove sticky,” BofA analysts led by Robert Ford wrote in a report dated June 9, raising MercadoLibre’s target price to $1,100.The company’s payments and wallet platform MercadoPago is also attracting bullish views, as lockdowns across the region push users to make payments online. Morgan Stanley expects total payment volume off-marketplace to grow 70% in 2020 and 69% in 2021.(Updates with chart, stock move throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Investing in mega-trends early can result in big payoffs for investors. If you missed out, sometimes lightning strikes twice.
Shares of MercadoLibre (NASDAQ: MELI) were climbing last month as the Latin American e-commerce operator continued to benefit from pandemic-related tailwinds. MercadoLibre kicked off the month on a strong note as BTIG raised its price target on the stock from $775 to $980 on June 1. Analyst Marvin Fong said that e-commerce adoption in Brazil, MercadoLibre's biggest market, had accelerated by four to five years because e-commerce's share of overall retail sales had climbed from 6% at the beginning of the year to 11% to 12% in April.
MercadoLibre, Inc.2.00% Convertible Senior Notes due 2028CUSIP BUENOS AIRES, Argentina, July 03, 2020 -- NOTICE IS HEREBY GIVEN, pursuant to Section 14.01(b)(iv).
The S&P 500 is sitting on an impressive 16.36% gain with just one day left in the second quarter. Arguably, that's a spectacular run considering the state of U.S. stocks in March at the hands of the coronavirus pandemic.Of course, some exchange traded funds are rebounding in an even more impressive fashion in the second quarter. The April through June period is proving so kind to equities that nearly 260 U.S.-listed ETFs -- approximately 10% of the entire domestic exchange traded products universe -- are higher by more than 30% this quarter.These ETF stars run the gamut of countries, exposures, sectors and themes. The following three are a mix of surprises and reasonable contenders.Global X MSCI Argentina ETF (ARGT)It's a great thing if your fund has e-commerce exposure and/or a big weight to Amazon (NASDAQ: AMZN) in 2020.Amazon's Latin American equivalent - MercadoLibre (NYSE: MELI) - has more than doubled in the quarter.That's supportive for the Global X MSCI Argentina ETF (NYSEARCA: ARGT) because the oldest Argentina ETF allocates 24% of its weight to MercadoLibre.How big impactful is MercadoLibre to ARGT's performance? The ETF is trading higher this month, a period in which MSCI put Argentina on the list for possible removal from its emerging markets benchmarks.ALPS Clean Energy ETF (ACES)After ranking as one of last year's best-performing ETFs, the ALPS Clean Energy ETF (CBOE: ACES) got off to a hot start this year before succumbing to the COVID-19 blues. One of the hottest stories in the renewable energy ETF space rebounded 34% during the quarter.Importantly, the second-quarter rally by ACES is rooted in solid fundamentals, including increased alternative energy adoption."Although U.S. net generation in April fell 6.6% below the same month in 2019, renewable generation has continued to grow as a source of the nation's supply and surpassed nuclear and coal for the second month in a row," reports S&P Global Market Intelligence. "Renewables accounted for 23.3% of the total, expanding its lead on nuclear generation as the second-largest source of power supply. A nuclear generation made up 21.5% of the nation's electricity, while gas-fired generation remained the largest supplier of power with a 39.3% share."Virtus LifeSci Biotech Clinical Trials ETF (BBC)Thanks to the coronavirus vaccine competition, which has more than 100 entrants, clinical trials are all the rage these days and the Virtus LifeSci Biotech Clinical Trials ETF (NYSEARCA: BBC) is dedicated to that theme.As such, BBC is on a tear this quarter with a 43.12% gain. BBC's strategy is interesting as it "passively invests solely in firms with promising drugs in clinical human trials that have not yet been approved by the FDA or gone into production," according to the issuer.That's relevant because it could be a year or more before a legitimate vaccine for the virus comes to market. Plus, BBC's components are equally weighted, so single stock risk is limited here.See more from Benzinga * 3 Biotech ETFs Up 10% Or More Over The Last Month(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Diageo Plc, the world's largest spirits maker, has doubled efforts to strengthen its presence in e-commerce channels in Brazil as the coronavirus pandemic triggered lockdowns, driving customers to drink at home, a company executive said on Friday. "Consumption at home has increased significantly over the past three months, but does not fully compensate revenue lost with the closure of bars, restaurants, nightclubs and events," Diageo's managing director for Brazil, Paraguay and Uruguay, Gregorio Gutierrez, told Reuters in an interview. "As soon as these on-trade channels closed, we reallocated our resources to an online task force," Gutierrez added.
Brazilian e-commerce has risen by 56.8% in the first five months of 2020 from a year earlier, reaching 105.6 billion reais ($20.50 billion) in sales revenue, a survey showed on Tuesday, as more consumers have shifted to online shopping during the coronavirus pandemic. "Consumers are more and more involved in online shopping particularly in categories related to basic needs and efforts to prevent COVID-19," said André Dias, director at Compre&Confie. Brazil's ecommerce growth was also boosted as smaller merchants and traditional brick-and-mortar retailers have pushed to boost their own online sales, the survey showed.
Latin American e-commerce group MercadoLibre will kick off operations in its new fulfillment center in Brazil's Northeastern state of Bahia in July, the company said on Tuesday, as more customers have been shifting to online shopping during the coronavirus pandemic. The facility, which will be its third distribution center in the country, is part of a previously announced investment of 4 billion reais ($776.29 million) in Brazil this year, the Argentina-based company added in a statement.
As an investor starting out, it's hard to differentiate good investments from the great ones. But as investors gain more experience, it becomes easier to recognize the gems. Finding great stocks is only a part of creating long-term wealth, however.
The Covid-19 crisis could mark the end of emerging markets, at least in the way that most investors think about them—as a unified asset class. Under the vast umbrella of emerging markets, one group of stocks has firmly bucked the decline and is poised to keep climbing. As their performance shows, picking stocks, rather than countries or regions, has become the name of the game with emerging markets.
The Nasdaq 100 index hit an all-time high in intraday trading on June 4, becoming the first major U.S. index to reach record highs after coronavirus plunge.
It's been almost 25 years since Amazon sold its first book online, and even as many have come to depend on online retailers, e-commerce still only represents 14% of retail purchases globally. In order to capitalize on this growing trend, let's look outside the U.S. to three regional specialists -- JD.Com Inc (NASDAQ: JD) in China, MercadoLibre (NASDAQ: MELI) in Latin America, and Sea Limited (NYSE: SE) in Southeast Asia -- and see why investors are excited about this international trio.
We've come a long way since Amazon.com sold its first book over the internet almost 26 years ago. Today, you can order just about anything online, from an expensive flat panel television to a lump of coal (yes really, I've done it).
If you're like me, you missed the more than 1,500% run in MercadoLibre (NASDAQ: MELI) stock over the last decade. While there have been plenty of other investments that have provided massive upside, Latin America's e-commerce and digital payments leader has been an especially big winner as the digital age sweeps across the globe. As much as it's grown, though, MercadoLibre's current market capitalization values it at just shy of $41 billion -- a large business to be sure but not so large that it's run out of stock market-beating potential.