Filed under: Next big thing, Stocks to Buy

Online auctioneer Mercadolibre (NASDAQ: MELI)’s business is doing pretty well, but that’s not the reason why the stock is up nearly 50% in the past few weeks. No, Mercadolibre is surging because its story is a wet dream for the financial media, and that’s important for investors and the stock’s many short sellers.

After all, when the company reported solid earnings back in early November, the stock only rose $10/share on negligible trading volume; now, after being dubbed “The Latin American eBay” by Investor’s Business Daily and “The Next Baidu” by the Cramer-TheStreet.com-CNBC axis, the stock has surged nearly $20/share within a few days on huge volume. A shining example of the power of the press!

Continue reading Mercadolibre (MELI): The financial media’s dream

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This entry was posted on Tuesday, December 18th, 2007 at 9:19 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.