MercadoLibre -5% on Amazon logistics pilot report

|By:, SA News Editor

Bloomberg reports that Amazon (AMZN -2.6%) is working on a logistics pilot project in Brazil.

Sources say the e-commerce giant is working with CargoX (Brazil’s “Uber of trucking”) to use its tech for faster deliveries. 

Faster deliveries are necessary because the trucks will be bulletproof to protect the high-value goods inside. Bulletproof trucks are slower, but CargoX’s predictive data can help speed up the deliveries. 

Amazon was a late entrant to the Brazil market and is trying to catch market leader MercadoLibre (NASDAQ:MELI). 

MELI shares are down 5.2% to $335.83 after the news.       

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