Top 5 Stock Picks of Michael Pausic’s Foxhaven Asset Management

3. Mercadolibre, Inc. (NYSE:MELI)

Foxhaven Asset Management’s Stake Value: $279 million

Percentage of Foxhaven Asset Management’s 13F Portfolio: 8.05%

Number of Hedge Fund Holders: 68

The dip of more than 16% in Mercadolibre Inc (NYSE:MELI) stock price over the last 12 months could be an attractive buying opportunity for new investors. The e-commerce and online auctions platform is a member of Foxhaven Asset Management since the beginning of 2018.

In the third quarter investor letter, LRT Capital Management, an investment management firm, said that Mercadolibre is trading at attractive valuations. Here is what  LRT Capital Management said:

“Mercadolibre, Inc. (MELI) – the LatAm eCommerce, shipping, and payments company, is now trading at a very attractive valuation – its lowest P/S ratio ever. The concerns here have to do with the recession in Brazil and slowing economic growth throughout the region.”