5 Best Fast Growth Stocks to Buy Now

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1. Mercadolibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 76

Founded in 1999, Buenos Aires, Argentina-based Mercadolibre, Inc. (NASDAQ:MELI) is Latin America’s leading e-commerce technology company operating through its primary platforms, MercadoLibre.com and MercadoPago.com. It provides solutions to individuals and companies buying, selling, advertising, and paying for goods online.

On November 2, Wedbush analyst Scott Devitt reiterated an ‘Outperform’ rating for Mercadolibre, Inc. (NASDAQ:MELI) shares and maintained a price target of $1500.

As of Q3 2023, Mercadolibre, Inc. (NASDAQ:MELI) shares were held by 76 prominent hedge funds, valued at nearly $3.4 billion, according to Insider Monkey data on 910 hedge funds. Generation Investment Management was the largest hedge fund shareholder with ownership of 0.5 million shares valued at $609 million.

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