Barron's takes another shot at high-flying MercadoLibre (MELI), noting the company's results are...


Barron's takes another shot at high-flying MercadoLibre (MELI), noting the company's results are juiced by the use of vastly-inflated official exchange rates to measure revenues from Venezuela and Argentina. The Latin American Amazon could fall more than 50% as these currency issues are recognized, says Mark Robers of Off Wall Street Consulting. Bulls counter that currency devaluation won't hit underlying growth and would also benefit operating expenses.
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  • losbronces
    , contributor
    Comments (986) | Send Message
     
    Has Barron's considered that if they use unofficial rates based on illegal currency exchanges for reporting; then they might be subject to legal problems in Argentina?

     

    Anyway, I doubt that those "unofficial" rates are published by anyone for the purpose of verification. In Argentina, that would be a criminal offense.

     

    Maybe its better for them to not be barred from doing business in Venezuela and/or Argentina.
    13 Jul 2013, 12:41 PM Reply Like
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