Why Is MercadoLibre Falling After Earnings?

The stock market was hovering near flat for much of the day on Tuesday, but Latin American e-commerce and fintech company MercadoLibre (NASDAQ: MELI) was a big underperformer. The short explanation for today's move is that MercadoLibre reported its fourth-quarter earnings on Monday after the market's close, and investors don't seem too thrilled with the results. On the fintech side of the business, the Mercado Pago payments platform saw payment volume soar by 134% from the same quarter in 2019, and the most important component, off-platform volume, grew by 150%.