5 Best Retail Stocks To Buy Now

4. Mercadolibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 77

In total, 77 hedge funds were long Mercadolibre, Inc. (NASDAQ:MELI) in the second quarter, with a total stake value of $3.3 billion.

Mercadolibre, Inc. (NASDAQ:MELI) is a broad-line retail company based in Uruguay. The company operates the Mercado Libre Marketplace, an automated online commerce platform.

New Street Research’s Soomit Datta upgraded Mercadolibre, Inc. (NASDAQ:MELI) from Neutral to Buy on September 1 and announced a $1650 price target on the stock.

Artisan Partners said the following about Mercadolibre, Inc. (NASDAQ:MELI) in its third-quarter 2023 investor letter:

“Top contributors to performance for the quarter included Latin American marketplace MercadoLibre, Inc. (NASDAQ:MELI). MercadoLibre rose as a result of continued share gains across key markets and supportive Brazilian regulations aimed at creating a level playing field in cross-border e-commerce.”

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