Looking At MercadoLibre's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on MercadoLibre (NASDAQ:MELI), with 80% of recent trades being bearish. The price range targeted by these investors over the last 3 months is $1100.0 to $1820.0. The current price of MELI is down -1.25% at $1380.0. New Street Research, Wedbush, and UBS have given price targets of $1650, $1500, and $1700 respectively.
September 14, 2023 | 5:01 pm
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Bearish stance taken by a significant investor on MercadoLibre (NASDAQ:MELI) with 80% of recent trades being bearish. Price targets given by New Street Research, Wedbush, and UBS are $1650, $1500, and $1700 respectively.
The bearish stance taken by a significant investor indicates a negative sentiment towards the stock. This, combined with the current price being below the given price targets, suggests a potential short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100