MercadoLibre Shares Fall 9%

(RTTNews) - MercadoLibre, Inc. (MELI) shares declined 9.24 percent to $1,745.03, down $177.54 on Wednesday. This comes despite the company reporting yesterday higher fourth-quarter earnings and revenue compared with the same period last year.

The stock is currently trading at $1,745.03, compared with a previous close of $1,922.56. It opened at $1,756.17 and has traded between $1,665.00 and $1,777.93 during the session. Trading volume stands at 0.81 million shares, above its average volume of 0.52 million shares.

For the fourth quarter, net income totaled $1.997 billion, or $39.40 per share, up from $1.911 billion, or $37.69 per share, a year earlier. Revenue surged 39.1 percent to $28.893 billion from $20.777 billion last year.

The stock has traded in a 52-week range of $1,665.00 to $2,645.22.