Why MercadoLibre (MELI) Shares Are Plunging Today

Shares of latin American e-commerce and fintech company MercadoLibre (NASDAQ:MELI) fell 5.4% in the morning session after JP Morgan analyst downgraded the stock from Overweight (Buy) to Neutral. The analyst highlighted concerns relating to MercadoLibre's credit business, operational costs from logistical expansion, and projected tax rate increases.