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, .
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