If you’re looking for an emerging markets play, Fast Money pro Tim Seymour suggests checking out his gal.
If you watch CNBC’s Fast Money regularly you know that Seymour calls Mercado Libre his gal – because the ticker symbol is MELI.
Mercado Libre is Spanish for free market and the company is an auction website that generates fees from customers who list items and then solicit bids from buyers.
“Think of it as the eBay of Latin America,” says Seymour.
He likes the stock as a value play. “It’s gone from $105 down to $65 in about 6weeks,” he explains. That’s too cheap.
“At 32 times earnings it’s at a trough valuation.”
Seymour suggests the stock as a 'buy' at current levels with a stop at $63. “This is a trader’s stock,” Seymour adds and he thinks the next leg is up.