Looking At MercadoLibre's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on MercadoLibre (NASDAQ:MELI) as indicated by unusual options activity. The sentiment among big-money traders is split between 43% bullish and 56% bearish. Whales have been targeting a price range from $1000.0 to $1260.0 for MercadoLibre over the last 3 months. B of A Securities downgraded its action to Neutral with a price target of $1350 while Jefferies maintained their Hold rating with a price target of $1300.
July 28, 2023 | 2:47 pm
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Unusual options activity indicates a bearish stance on MercadoLibre. The sentiment among big-money traders is split between 43% bullish and 56% bearish. B of A Securities downgraded its action to Neutral with a price target of $1350 while Jefferies maintained their Hold rating with a price target of $1300.
The unusual options activity and the bearish sentiment among big-money traders indicate a potential downward pressure on MercadoLibre's stock price. Additionally, the downgrade by B of A Securities could further negatively impact the stock price.
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IMPORTANCE 80
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