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Why Did MercadoLibre Stock Pop -- Then Drop?

TheMotleyFool 
0 0 12.02.26
Why Did MercadoLibre Stock Pop -- Then Drop?: https://g.foolcdn.com/editorial/images/856225/green-up-button-and-red-down-button.jpg
 

MercadoLibre (NASDAQ: MELI) stock, the "Latin Amazon.com," jumped nearly 5% in early trading Thursday before turning tail and giving back almost all its gains. (As of 11:30 a.m. ET, MercadoLibre is up only about 0.5%.)

It's no secret why MercadoLibre popped -- Wall Street analyst Marcelo Santos at JPMorgan Chase upgraded the stock to "overweight" this morning. The question is: Why did MercadoLibre stock then drop again?

Image source: Getty Images.

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Source Fool.com

Mercadolibre Inc Stock

€1,679.8
0.730%
The Mercadolibre Inc stock is trending slightly upwards today, with an increase of €12.20 (0.730%) compared to yesterday's price.
With 40 Buy predictions and not a single Sell prediction Mercadolibre Inc is an absolute favorite of our community.
As a result the target price of 2419 € shows a positive potential of 44.01% compared to the current price of 1679.8 € for Mercadolibre Inc.
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