MercadoLibre dives following Venezuelan, Argentine currency moves

MercadoLibre (MELI -6.1%) investors aren't responding well to news Venezuela's government is enacting a slew of currency policy changes widely viewed as a stealth devaluation, and that Argentina's central bank has pulled its support for the peso, leading the currency to see its largest one-day drop since the '02 financial crisis.

Concerns about the impact of Argentine and (especially) Venezuelan currency swings, along with criticism of MercadoLibre's forex accounting for its sales within the countries, has been around for a while. The company has bought commercial real estate in Argentina and Venezuela in an attempt to protect itself from currency declines.

From other sites
Comments (2)
  • pluckybucky
    , contributor
    Comment (1) | Send Message
    why ?
    23 Jan 2014, 07:50 PM Reply Like
  • Lildoctor
    , contributor
    Comment (1) | Send Message
    It's a $30 stock
    26 Jan 2014, 08:58 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs