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Rising Star Stock – Monday February 2nd
In this feature the traders reveal their favorite rising star stock and this week it's a real Latin hottie. Find out why Tim Seymour thinks MercadoLibre [MELI
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] is an international beauty.
According to the company’s website, MercadoLibre is an online market where million of people in Latin America can buy and sell all kinds of items each day. MercadoLibre works in the same way as eBay does: customers bid for an item, and the customer with the highest bid after a determined date wins the item.
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Here are some more particulars:
MercadoLibre (MELI)
-Based in Argentina
-Sector: Technology
-Industry: Computer Services
-Market Cap: $578 million
-52 Week High: $57.71
-52 Week Low: $7.91
-Down 66% over the last 52 weeks
Why is this firm a rising star stock?
"They are seeing their transaction rates up 20%- 30% in the last year at a time when commerce around the world is going down," explains Tim Seymour.
Maybe put it on your radar!
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Trader disclosure: On Feb. 2nd, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (FXI); Macke Owns (DIS), (MS), (SDS), (MCD); Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (XBI), (IBB); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO); Najarian Owns (AMGN) Call Spread; Najarian Owns (BMY) Calls; Najarian Owns (DRYS) Stock & (DRYS) Puts; Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GDX) Call Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (V) Call Spread
Data is a real-time snapshot *Data is delayed at least 15 minutes