Check Out What Whales Are Doing With MELI
Portfolio Pulse from Benzinga Insights
A significant number of investors have taken a bearish stance on MercadoLibre (NASDAQ:MELI), with 52% of the investors opening trades with bearish expectations. The whales have been targeting a price range from $900.0 to $1700.0 for MercadoLibre over the last 3 months. The price of MELI is up 0.95% at $1211.0. Several financial institutions including Credit Suisse, JP Morgan, Goldman Sachs, and Barclays have maintained their positive ratings on MercadoLibre.

August 21, 2023 | 6:01 pm
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NEGATIVE IMPACT
Bearish stance observed on MercadoLibre (NASDAQ:MELI) with 52% investors opening bearish trades. Price target ranges from $900 to $1700.
The bearish stance taken by a significant number of investors indicates a potential decrease in the stock price in the short term. However, the positive ratings maintained by several financial institutions may counterbalance this effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100