What's Going On With MercadoLibre Stock?
Portfolio Pulse from Ryan Gustafson
MercadoLibre, Inc. (NASDAQ:MELI) announced a convertible note redemption, which will save the company approximately $44 million in interest expense. The company's shares are trading lower following the announcement.
September 21, 2023 | 7:40 pm
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MercadoLibre's shares are trading lower following the announcement of a convertible note redemption. The move is expected to save the company approximately $44 million in interest expense.
The announcement of the convertible note redemption, which will save the company significant interest expense, has led to a decrease in MercadoLibre's share price. This suggests that investors may be concerned about the company's financial position or its use of debt.
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