Concerns about global inflation, rising borrowing costs, and economic impacts from the war in Ukraine have been overwhelming the stock market all year. Year to date, the S&P 500 has tumbled 23%, and the Nasdaq Composite has slipped 32%, as investors have cast aside high-growth technology companies and instead relied on safer assets like bonds and value stocks. After its stock rocketed nearly 300% from April 2020 through January 2021, the Latin America-based MercadoLibre (NASDAQ: MELI) has seen it crumble 53% since the start of the year.
The e-commerce industry has hit a roadblock, and now many promising companies are trading at handsome valuations.
E-commerce is going through a rough patch, leaving patient investors with many wonderful buying opportunities today.