Jim Cramer’s 5 Latest Stock Picks

3. MercadoLibre Inc (NASDAQ:MELI)

Number of Hedge Fund Investors: 76

Argentina-based ecommerce company MercadoLibre Inc (NASDAQ:MELI) is one of the best stocks to buy according to Jim Cramer. When asked about MercadoLibre Inc (NASDAQ:MELI) recently during his program on CNBC, Jim Cramer said that MercadoLibre Inc (NASDAQ:MELI) is “the stock to own” if you are looking for stocks to buy in Latin American. Cramer said “those people” are “incredibly smart.”

As of the of the of third quarter of 2023, 76 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in MercadoLibre Inc (NASDAQ:MELI). The biggest stakeholder of MercadoLibre Inc (NASDAQ:MELI) during this period was David Blood and Al Gore’s Generation Investment Management which owns a $609 million stake in MercadoLibre Inc (NASDAQ:MELI).

ClearBridge International Growth EAFE Strategy stated the following regarding MercadoLibre, Inc. (NASDAQ:MELI) in its fourth quarter 2023 investor letter:

“Emerging growth companies Shopify and MercadoLibre, Inc. (NASDAQ:MELI) continue to show improved operational performance. MercadoLibre’s investments in new services continue to drive revenue growth and margin improvement. New loyalty programs, credit services and advertising products, for example, all contributed to good business performance.”