10 Best Emerging Markets Stocks to Buy According to Hedge Funds

2. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 96

MercadoLibre, Inc. (NASDAQ:MELI) is a leading e-commerce and fintech company, headquartered in Uruguay, operating across 18 Latin American countries, including Brazil, Mexico, and Argentina. Its ecosystem comprises several integrated services: Mercado Libre Marketplace, a platform for buying and selling goods; Mercado Pago, a digital payments solution; Mercado Crédito, offering credit services; Mercado Envios, providing logistics solutions; Mercado Ads, an advertising platform; and Mercado Shops, which enables businesses to create online storefronts.

MercadoLibre, Inc. (NASDAQ:MELI) had an outstanding year in 2024, gaining significant market share in Brazil, Mexico, and Argentina across core areas such as GMV, total payment volume (TPV), credit portfolio, and assets under management. The company achieved key milestones, surpassing 100 million unique buyers on its marketplace and reaching 60 million monthly active users on its FinTech platform. With $21 billion in revenue and over $1 billion in free cash flow, MELI demonstrated its ability to generate strong, profitable growth while continuing to invest in its strategic priorities.

Throughout the year, MercadoLibre, Inc. (NASDAQ:MELI) focused on enhancing its logistics capabilities, opening new fulfillment centers, and expanding its free shipping coverage to improve customer experience. In the credit card business, MELI issued 5.9 million new cards and more than doubled the size of its portfolio. The company’s long-term growth outlook remains strong, supported by low e-commerce penetration in Latin America, rising demand for financial products among underserved populations, and increasing adoption of digital payment solutions among merchants and consumers. For its explosive expansion, MELI is often called “The Amazon of Latin America”, which makes it one of the best emerging markets stocks to invest in.