🔴 MELI is trading 9.39% down today after an EPS miss and margin contraction from heavy expansion costs

MELI is trading at $1694.46 (-9.39%) following a Q1 earnings report where an EPS miss and shrinking margins overshadowed a revenue beat.

• Revenue reached $8.85B (beating estimates by 5.8%), but EPS of $8.23 fell short of the $8.83 expected by analysts.
• Operating margins plummeted to 6.9% from 12.9% year-over-year as the company aggressively invested in Brazil logistics, credit card offerings, and retail expansion.
• BofA slashed its price target to $2,400 from $3,000 citing cost pressures, even as the broader Nasdaq climbed 0.91%.