Several Tailwinds Lifted MercadoLibre (MELI) in Q3

Insider Monkey11-21 21:30

Fred Alger Management, an investment management company, released its “Alger Spectra Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. US equities posted positive ...

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US equities posted positive ...</p>\n\n<a href=\"https://finance.yahoo.com/news/several-tailwinds-lifted-mercadolibre-meli-133207263.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Several Tailwinds Lifted MercadoLibre (MELI) in Q3</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSeveral Tailwinds Lifted MercadoLibre (MELI) in Q3\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-21 21:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/several-tailwinds-lifted-mercadolibre-meli-133207263.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fred Alger Management, an investment management company, released its “Alger Spectra Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. US equities posted positive ...</p>\n\n<a href=\"https://finance.yahoo.com/news/several-tailwinds-lifted-mercadolibre-meli-133207263.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0050427557.USD","symbol_name":"富达拉丁美洲基金","start_time":0,"source_url":"https://finance.yahoo.com/news/several-tailwinds-lifted-mercadolibre-meli-133207263.html","article_id":"2485499788","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/_zYygyDxn5o8HawigZ_42Q--~B/aD00MzA7dz03Njg7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/insidermonkey.com/e2ff2306320743bebbdc8073c032b4e9"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485499788","pubTimestamp":1732195808,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Fred Alger Management, an investment management company, released its “Alger Spectra Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. US equities posted positive results in the third quarter with the S&P 500 Index rising 5.89%. Against this backdrop, the fund’s Class A shares underperformed the Russell 3000 Growth Index in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.Alger Spectra Fund highlighted stocks like MercadoLibre, Inc. , in the third quarter 2024 investor letter. MercadoLibre, Inc.  is an online commerce platform that operates Mercado Libre Marketplace and Mercado Pago FinTech platforms. The one-month return of MercadoLibre, Inc.  was -6.06%, and its shares gained 26.64% of their value over the last 52 weeks. On November 20, 2024, MercadoLibre, Inc.  stock closed at $1,931.26 per share with a market capitalization of $97.91 billion. 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A copy of the letter can be downloaded here. US equities posted positive results in the third quarter with the S&P 500 Index rising 5.89%. Against this backdrop, the fund’s Class A shares underperformed the Russell 3000 Growth Index in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.\nAlger Spectra Fund highlighted stocks like MercadoLibre, Inc. (NASDAQ:MELI), in the third quarter 2024 investor letter. MercadoLibre, Inc. (NASDAQ:MELI) is an online commerce platform that operates Mercado Libre Marketplace and Mercado Pago FinTech platforms. The one-month return of MercadoLibre, Inc. (NASDAQ:MELI) was -6.06%, and its shares gained 26.64% of their value over the last 52 weeks. On November 20, 2024, MercadoLibre, Inc. (NASDAQ:MELI) stock closed at $1,931.26 per share with a market capitalization of $97.91 billion\nAlger Spectra Fund stated the following regarding MercadoLibre, Inc. (NASDAQ:MELI) in its Q3 2024 investor letter:\n\n\"MercadoLibre, Inc. (NASDAQ:MELI) is Latin America’s leading e-commerce and fintech platform, holding dominant positions in Brazil, Mexico, and Argentina but it also operates in 15 other countries. Despite competition from global e-commerce players, the company has successfully maintained and expanded its market share. MercadoLibre has leveraged its strengths in customer data and distribution to drive rapid growth in its profitable advertising and fintech segments. In our view, the company’s success is largely driven by strong network effects in e-commerce and logistics, data and distribution advantages in fintech, and a rapidly growing advertising business. As more buyers and sellers join the platform, the marketplace becomes more valuable, attracting even more users. This expanding user base enhances its logistics and payment services, making transactions smoother and more reliable, further drawing in additional users. The growing ecosystem also generates more data, enabling improved personalization, advertising, and fintech services. These network effects create a virtuous cycle, reinforcing MercadoLibre’s market position and making it increasingly difficult for competitors to challenge them. During the quarter, shares contributed to performance after the company reported strong fiscal second-quarter earnings, with revenues significantly exceeding analyst estimates and market share gains in all geographies where it operates. Additionally, monthly active users for their fintech platform, Mercado Pago, grew by 37% year-over-year, highlighting the value of the company’s digital ecosystem as consumers increasingly engage with multiple product offerings.\"\n\n A customer using their phone to access an online commerce platform. \nMercadoLibre, Inc. (NASDAQ:MELI) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 87 hedge fund portfolios held MercadoLibre, Inc. (NASDAQ:MELI) at the end of the third quarter which was 84 in the previous quarter. MercadoLibre, Inc.'s (NASDAQ:MELI) net income rose by 11% year-over-year, reaching $397 million in the third quarter. While we acknowledge the potential of MercadoLibre, Inc. (NASDAQ:MELI) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nIn another article, we discussed MercadoLibre, Inc. (NASDAQ:MELI) and shared the list of best internet retail stocks to buy. MercadoLibre, Inc. (NASDAQ:MELI) contributed to Baron Fund's performance in the third quarter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.\nREAD NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485499788"}