Login to your account

Lost your password?

These stocks doubled in 2016: They will double again in 2017

Mercadolibre (MELI)

I took my first good, hard look at Mercadolibre for a November story about online retail. I was soon convinced not only that I was looking at a phenomenon, but that I was looking at one still in a relatively early stage of its development. Mercadolibre, which is playing to become the Amazon.com (AMZN) or Alibaba (BABA) of Latin America, has a market cap of $7.6 billion, which is not tiny, but based on market cap, Alibaba is 31 times as big, while Amzon.com is 48 times as big. My call was a reasonably good one, by the way. Since the November article, MELI shares have gone from $158 to $171.

Technically, MELI shares weren’t up 100% in 2016, only about 60%, but the share price did double over the course of the year if one measures from February trough to October peak. An excuse, yes, but given the growth potential here, any excuse is a good one.

MELI

Chart courtesy of www.stockcharts.com

Symbols: , , , ,

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.