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MercadoLibre Shares Tumble 7% After JPMorgan Downgrade Amid Rising Competition

MercadoLibre Shares Tumble 7% After JPMorgan Downgrade Amid Rising Competition

Author:

Global Cryptocurrency

Published:

2026-03-13 09:31:02

16

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BTCCSquare news:

MercadoLibre's stock plunged 6.8% to $1,649, extending its decline to 37% from its 52-week high of $2,614. JPMorgan downgraded the Latin American e-commerce giant from Overweight to Neutral, slashing its price target from $2,650 to $2,100. The bank projects 2026 margins to fall 1.8 percentage points below expectations, citing intensifying competition from Amazon and Sea Limited's Shopee in Brazil.

Despite 44% revenue growth in 2025, net income only expanded 5% as bad loan provisions weighed on profitability. The selloff coincided with broader market weakness as escalating Middle East tensions pushed oil prices higher and Goldman Sachs warned of a 25% recession probability.

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