MercadoLibre Unusual Options Activity For June 05
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on MercadoLibre (NASDAQ:MELI), with 60% of detected unusual options trades being bearish. Whales have been targeting a price range of $1,000 to $1,540 for MercadoLibre over the last 3 months. JP Morgan maintains an Overweight rating on the stock with a price target of $1,700.
June 05, 2023 | 5:03 pm
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A whale has taken a bearish stance on MercadoLibre, with 60% of detected unusual options trades being bearish. JP Morgan maintains an Overweight rating on the stock with a price target of $1,700.
The bearish stance taken by the whale may create short-term downward pressure on the stock price. However, JP Morgan's Overweight rating and $1,700 price target suggest a positive long-term outlook. The combination of these factors results in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100