30 Stocks That Should Double in 3 Years

10. MercadoLibre Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 96

MercadoLibre Inc. (NASDAQ:MELI) is an online commerce platform that operates Mercado Libre Marketplace, which is an online commerce platform that can be accessed through the mobile app or website. It also operates Mercado Pago, which is a financial technology solution platform.

In 2024, the company expanded its credit card business and issued 5.9 million new credit cards, which doubled its existing credit portfolio. The Mercado Pago platform also achieved 60 million monthly active users this year. MercadoLibre is now optimizing payment processing times for its POS devices. Furthermore, the company’s advertising revenue grew 37% year-over-year in 2024.

On April 7, Bloomberg reported that MercadoLibre Inc. (NASDAQ:MELI) plans to increase its investment in Brazil by 48% to invest ~$5.8 billion in 2025. This investment will enhance the company’s logistics, technology, marketing, and financial capabilities and allow MercadoLibre to increase its staff in Brazil by 14,000 to reach a total of 50,000 employees.

Lakehouse Global Growth Fund highlighted the company’s significant future potential and stated the following regarding MercadoLibre, Inc. (NASDAQ:MELI) in its February 2025 investor letter:

“The Funds largest position, e-commerce leader MercadoLibre, Inc. (NASDAQ:MELI), delivered another impressive quarterly result, combining robust growth with improving profitability. Net revenue grew 37% year-on-year in U.S. dollar terms to $6.1 billion while operating margins climbed to 13.5%, which was particularly pleasing given the company remains firmly in reinvestment mode. Key operational metrics for its marketplace underscored this strength, with items sold increasing 27%, unique buyers climbing 24% to a new high of 67 million and items per buyer increasing to 7.8. Importantly, the company continues to gain incremental market share in its primary regions, namely that of Brazil and Mexico.

The outperformance of the company’s advertising business also continues to be bright spot, growing 40% plus year-on-year in USD terms. As of today, the advertising business still only represents 2.1% of GMV, which is well below the level of more mature e-commerce peers globally and suggests there is still plenty of runway to grow the ads business. This not only provides another attractive growth vector but also a meaningful lever to improve profitability over time given the higher-margin nature of advertising revenue.”