15 Best Fast Growth Stocks To Buy Right Now

2. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 96      

MercadoLibre, Inc. (NASDAQ:MELI) is a multinational e-commerce company operating in Latin America. In the third quarter of 2024, net revenues and financial income reached $5.3 billion, reflecting a 35% year-over-year growth and a 103% increase on an FX-neutral basis. In February, Mercado Libre partnered with AWS Partner Mutt Data to address the challenge of producing high-performing banner ads with generative artificial intelligence (AI) for dozens of thousands of smaller sellers. Through GenAds, Mercado Libre helped these sellers generate images for advertising, boosting click-through rates (CTR) by an average of 25% and effectively increasing sales. The initiative, launched across seven Latin American countries, including Brazil, Mexico, and Argentina, led to a 45% increase in impressions and the generation of over 90,000 updated product creatives, benefiting tens of thousands of sellers.