Is MercadoLibre (MELI) A Good Stock To Buy Despite the Macro Environment?

Lakehouse Capital, an investment management company, released its “Lakehouse Global Growth Fund” August 2022 investor letter. A copy of the same can be downloaded here. August was a quiet month, and the fund returned -1.9% net of fees and expenses compared to -2.0% for its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Lakehouse Capital discusses the stocks like MercadoLibre, Inc. (NASDAQ:MELI) in the August 2022 investor letter. Headquartered in Montevideo, Uruguay, MercadoLibre, Inc. (NASDAQ:MELI) is an online commerce platform. On September 26, 2022, MercadoLibre, Inc. (NASDAQ:MELI) stock closed at $799.58 per share. One-month return of MercadoLibre, Inc. (NASDAQ:MELI) was -8.64% and its shares lost 54.78% of their value over the last 52 weeks. MercadoLibre, Inc. (NASDAQ:MELI) has a market capitalization of $40.249 billion.

Here is what Lakehouse Capital specifically said about MercadoLibre, Inc. (NASDAQ:MELI) in its investor letter:

Buenos Aires-based e-commerce leader MercadoLibre, Inc. (NASDAQ:MELI) delivered another standout result in August, with net revenue growing 53% year-on-year in U.S. dollar terms despite rolling over a tough comparable period of 90%-plus growth from a year ago. The marketplace business grew across all major regions and total gross merchandise volume (GMV) increased to US$8.6 billion, up 26% year-on-year. The platform’s core metrics remained healthy with GMV per buyer increasing, the number of unique buyers ticking above the seasonal fourth-quarter high to 40.8 million, whilst item counts remained steady. Although management acknowledged that the macro environment is challenging, we remain impressed by the company’s ability to outperform and continue to gain market share.

MercadoLibre, Inc. (NASDAQ:MELI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 68 hedge fund portfolios MercadoLibre, Inc. (NASDAQ:MELI) at the end of the second quarter which was 63 in the previous quarter.

We discussed MercadoLibre, Inc. (NASDAQ:MELI) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.