Why MercadoLibre Stock Sank Today

Investors wanted to see much higher profits but they might be thinking too short-term.Shares of Latin American e-commerce platform, logistics network, and financial technology (fintech) giant MercadoLibre (MELI -16.98%) sank on Thursday after reporting financial results for the third quarter of 2024. The company's profits came up quite short of expectations. And that's why MercadoLibre stock was down nearly 16% as of 1 p.m. ET.Investors are worried about profitsMercadoLibre still has no problem whatsoever w ...