MercadoLibre (NASDAQ:MELI) stock is a hot topic on Thursday as investors are hoping the Latin America e-commerce company will announce a stock split after markets close today.
One reason traders are hoping for a stock split from MercadoLibre is that the company’s shares have never undergone one before. Adding to that is the increasing price of the stock, which was trading for about $1,479 as of this writing.
MercadoLibre has been on the public market for years, having made its debut back in 2007. During that time, the stock’s price surged, with a more than 5,000% increase since then.
Some investors are, therefore, hopeful that a MELI stock split will be announced soon. The reason investors are pinning hopes on after markets close today is due to earnings. The company will report its Q1 2024 earnings results after the closing bell.
What to Expect From MELI Today
The stock’s movement will largely be affected by its earnings report. Wall Street is predicting EPS of $6.03 alongside revenue of $3.85 billion. Shares could also rise or fall depending on any split announcement, or lack thereof.
MELI stock is up 1.6% as of Thursday afternoon. The shares are down 3.2% since the start of the year.
Investors will find more of the most recent stock market stories ready to go below!
We have all of the hottest stock market news traders need to know about on Thursday! A few examples include what’s going on with shares of Lucid Motors (NASDAQ:LCID), Carvana (NYSE:CVNA) and Emergent BioSolutions (NYSE:EBS) stock. All of that news is available at the following links!
More Stock Market News for Thursday
- LCID Stock: Lucid Motors Announces New Saudi EV Partnership
- JPMorgan Just Raised Its Price Target on Carvana (CVNA) Stock
- Emergent BioSolutions Layoffs 2024: What to Know About the Latest EBS Job Cuts
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
