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Tim Seymour’s Bid on Latin America Growth

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.

Posted by CNBC's Lee Brodie




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Trader disclosure: On June 20, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long M; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long SBUX; Brian Kelly is long AAPL; Brian Kelly is long BAC; Brian Kelly is long PNC; Brian Kelly is long JPM; Brian Kelly is long WFC; Brian Kelly is long DD; Brian Kelly is long DOW; Brian Kelly is long MMM; Brian Kelly is long GNRC; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU

For Josh Brown
Nothing to disclose

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