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Nov. 16, 2021, 9:39 a.m. EST

MercardoLibre stock sinks after equity offering priced at a 5.1% discount

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By Tomi Kilgore

Shares of MercadoLibre Inc. /zigman2/quotes/200678442/composite MELI +5.95% sank 5.6% in morning trading Tuesday, after the Latin America-based e-commerce platform said it raised $1.55 billion through public stock offering of 1 million shares that priced at a discount. The company said the offering, plans of which were announced late Monday, priced at $1,550.00 per share, which was 5.1% below Monday's closing price of $1,633.21. The 1 million-share offering represented 2.0% of the shares outstanding as of Nov. 3. The stock has declined 14.1% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.72% gained 4.8%.

/zigman2/quotes/200678442/composite
US : U.S.: Nasdaq
$ 1,124.05
+63.11 +5.95%
Volume: 436,135
Jan. 20, 2022 2:20p
P/E Ratio
710.17
Dividend Yield
N/A
Market Cap
$53.53 billion
Rev. per Employee
$403,058
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/zigman2/quotes/210599714/realtime
US : S&P US
4,565.58
+32.82 +0.72%
Volume: 1.44B
Jan. 20, 2022 2:22p
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