The Argentinian unicorn has become part of the Nasdaq 100 Index of the New York stock exchange and replaced Yahoo. ...
The Argentinian unicorn has become part of the Nasdaq 100 Index of the New York stock exchange and replaced Yahoo. It has a larger market value than YPF.
The e-commerce company, founded by Marcos Galperín in 1999, has been listed in Wall Street for the past 10 years, and today it made history as it is among the top 100 tech companies of the world.
Starting June 19th, Mercado Libre will be the first Argentinian company to become part of the Nasdaq 100, the US stock Exchange index where the shares of the largest hardware, software and communications firms are quoted, confirmed NASDAQ in a press release. The ticket used will remain to be MELI, the name used by Galperin’s team to refer to the company.
The founder of Mercado Libre celebrated the news through his Twitter account. “Mercado Libre is in the Nasdaq top 100, replacing Yahoo. This is both symbolic and historic for Latin America”.
Yahoo left the list because it is turning into a closed investment fund.
By the end of February, MELI had already been news as it topped the USD 10,000 million market’s value. And by the beginning of March, Galperin became one of the seven wealthiest Argentinians, according to a ranking developed by Forbes. Mercado Libre has a stock-market capitalization value of USD 12,400 million, and since August 2016, it is worth more that the emblematic Argentinian oil company YPF.
The company is the absolute regional leader in the e-commerce business, and every share has a value of 275 dollars. But the market expects its value to be enhanced by this piece of news, as investment funds that buy shares replicating Nasdaq 100 should also buy shares of the company.
With operation in 15 Latin American countries, the company has sought international presence from its very beginning, and was the first Argentinian company to be listed in NASDAQ, even without being listed in Buenos Aires’ stock-exchange.
Last year, 181.2 million products were sold via Mercado Libre, with a value of USD 8,000 million. The company is completed with the platforms Mercado Pago and Mercado Envíos, and this year launched Mercado Créditos, a platform of capital loans for small and medium companies that sell or process their payments using the group.
