MercadoLibre (MELI) Gains 3% YTD: How to Play the Stock Now?

MercadoLibre (MELI) shares have grown 3% year to date, underperforming the industry and the S&P 500 index’s rise of 13% and 14.1%, respectively. The MELI stock is also currently trading below its 50-day moving average, indicating a bearish trend.The company is suffering from market uncertainties, high inflation and weakening macro conditions in Argentina. Mounting expenses related to warehousing and shipping are hurting its margin expansion.Although MercadoLibre has a strong foothold in the online retail ma ...