MercadoLibre (MELI -3.4%) closed lower after Stifel (Sell) argued once again (previous) Amazon...

|By:, SA News Editor

MercadoLibre (MELI -3.4%) closed lower after Stifel (Sell) argued once again (previous) Amazon (AMZN) is planning to enter the Brazilian e-commerce market. Brazil accounted for nearly half of MercadoLibre's Q2 revenue, with sales growing at a 36% Y/Y clip. Also, Deutsche launched coverage with a Hold, declaring shares "fairly valued" at current levels.