Amazon (NASDAQ: AMZN) has been a growth beast for decades.
Today, it’s one of the most valuable companies in the world, continuing to look for new growth opportunities and ways to become even bigger
Like many investors, however, you may feel you’ve missed the boat on the tech giant and that it’s too late to buy it. But what about investing in a company that’s so much like Amazon that it’s often compared to it? MercadoLibre (NASDAQ: MELI) is based in Uruguay and is often referred to as the “Amazon of Latin America” due to its burgeoning e-commerce business.
Its market cap of $80 billion is relatively small when compared to Amazon’s $2.8 trillion valuation. This year, MercadoLibre’s stock is down 21%, and it’s now near its 52-week low. Could this be a great time to add it to your portfolio?