Home / Market Movers / Services Sector Fueled by 4.18% Gain from MercadoLibre Inc. (MELI) on September 21

Services Sector Fueled by 4.18% Gain from MercadoLibre Inc. (MELI) on September 21

MercadoLibre Inc. (MELI) was one of the best performers amongst all companies listed in the services sector on the NYSE and NASDAQ exchanges during trading on September 21, climbing 4.18% to wrap the day at $186.75 after closing the day prior at $179.25. Throughout the trading session, shares of MELI rose as high as $187.43 and dipped as low as $179.25. Today’s advance came with about 555,371 shares changing hands, compared to an average 30-day volume of 475,587 for MercadoLibre Inc.. The price is currently below the 30-day volume weighted average price of $183.73 for MELI.

The share appreciation today gives the company a market capitalization of $7.92 billion based upon 44.16 million shares outstanding. It also means that MELI has a price-to-book ratio of 21.71:1.

In the past 52 weeks, shares of MELI have traded as low as $84.194 and as high as $188.58. Technical traders will take note that at $186.75, shares of MELI are trading above their 200-day MA at $129.54 and above their 50-day MA at $165.13. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is MELI?

MercadoLibre Inc, together with its subsidiaries hosts the online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The company’s 3298 employees are led by CEO Marcos Galperin from the corporate headquarters at Arias 3751 in Buenos Aires, .

For more information on MELI and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

All data provided by QuoteMedia, with stock data accurate as of 4:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.

About FinancialPress.com

FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.

Check Also

Shares of TSX Venture Miscellaneous Company Valterra Resource Corporation (CDX:VQA:CA) Fall 6.25% on September 30

In sliding 6.25%, Valterra Resource Corporation (CDX:VQA:CA) was one of the worst performing stocks in …