Why MercadoLibre Stock Took a Dive Today

Shares of MercadoLibre (MELI -10.81%) were sliding today as a narrowing gross margin and expectations of slowing growth seemed to overshadow a strong quarter. The company's reported profit was also impacted by a one-time tax liability.As a result, the stock was trading down 12.9% as of 10:31 a.m. ET. MercadoLibre's hot streak cools offThe Latin American e-commerce and digital payments specialist has been a top performer throughout its history and has delivered brisk growth coming out of the peak of the pand ...