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Mercadolibre falls as Amazon considers Brazil push

Published 10/12/2017, 10:49 AM
© Reuters.  Mercadolibre falls as Amazon considers Brazil push
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  • Mercadolibre (NASDAQ:MELI) falls 6.4% on news that Amazon (NASDAQ:AMZN) plans to further enter the e-commerce market in Brazil.
  • Brazilian publication Valor says Amazon could start selling electronics in the country on October 18.
  • Brazil accounted for more than half of Mercadolibre’s FY16 revenues.
  • Credit Suisse (SIX:CSGN) analyst Stephen Ju thinks Mercadolibre will be one of the winners in the local e-commerce market and calls the company his favorite internet smid-cap stock.
  • Netshoes (NETS -2%) are also down on the Amazon news since Brazil accounted for 89% of FY16 revenues.
  • Source: Bloomberg First Word
  • Now read: Seeking Alpha? Here's Alpha


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