MercadoLibreNASDAQ: MELI

MercadoLibre has been an e-commerce growth machine over the years. The stock has even been a better buy than Amazon of late.

According to Nasdaq Chief Economist Phil Mackintosh, earnings growth drives stock prices over the long term. This assertion is evident as growth stocks with the best earnings per share (EPS) have led the market since it bottomed out in October 2022.

MercadoLibre's customer base is still growing. Its gross merchandise volumes and total payment volumes are rising.

E-commerce adoption trends alone bode well for MercadoLibre's business, to say nothing about its other business segments. Ulta Beauty stock is cheap because many investors don't realize how ready it is to take on the competition.

South America's smartphone and mobile internet market is in the midst of its maturation phase and is growing rapidly. MercadoLibre already dominates South America's e-commerce market, but the development of the region's mobile business will be a major long-term growth driver.

In the closing of the recent trading day, MercadoLibre (MELI) stood at $1,585.03, denoting a +0.74% change from the preceding trading day.

Shopify is on track to become the "100-year company" its CEO envisions. MercadoLibre has built a formidable competitive advantage solidified by its region's challenges.

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MercadoLibre continues to benefit from a fast-growing market ripe for expansion. The company thrives off the problems within its home region.