MercadoLibre: It May Be Just The Beginning Of A Great Rally

NosUA About three months ago, I published my first article on MercadoLibre (NASDAQ:MELI), whose shares were trading around $1,360 apiece at the time. I was of the opinion that the contraction in margins in the fourth quarter was probably a one-off event and that the company was very well positioned for the long term with its investments. My discounted free cash flow valuation model [DCF] indicated an undervaluation of at least 40%. Over the last three months, the stock is up 21.6%, almost twice as much  ...