Why MercadoLibre Shares Are Trading Lower By Around 10%? Friday’s Mid-Day Stock Movement Analyzing Market Trends: Notable Stock Movements and MercadoLibre’s Recent Drop

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By Ronald Tech

MercadoLibre witnessed a significant downturn during Friday’s trading session, triggered by the release of its fourth-quarter financial results which failed to impress investors.

The company reported earnings of $3.25 per share for the quarter, mirroring the previous year’s performance. However, it surpassed revenue expectations with sales amounting to $4.26 billion compared to the anticipated $4.12 billion.

As a result, MercadoLibre’s shares tumbled by 9.6% to $1,643.30 by mid-day on Friday.

Meanwhile, other companies making waves in today’s mid-day session include:

Notable Gainers:

  • AXT, Inc. soared 74.4% to $3.9750 following a robust fourth-quarter performance.
  • Maravai LifeSciences Holdings, Inc. surged 60.8% to $8.22 on the back of stellar financial results.
  • AtlasClear Holdings, Inc. rose 48% to $1.6899.
  • EZFill Holdings Inc. gained 44.6% to $ 1.8088.
  • Ocean Biomedical, Inc. jumped 42.3% to $0.7819.

Building Momentum:

  • LegalZoom.com, Inc. climbed 10.5% to $10.87 after exceeding fourth-quarter expectations and providing solid FY24 revenue guidance.
  • Vir Biotechnology, Inc. rose 10.3% to $11.36 following robust sales results.
  • Comfort Systems USA, Inc. witnessed a steady increase.




Market Movers and Shakers

The Ebb and Flow of Financial Markets: Winners and Losers

Winners

  • FIX rose 10.2% to $273.10 on the NYSE after exceeding expectations in the fourth quarter.
  • Hyatt Hotels Corporation (H) climbed 8.9% to $147.66 following a strong fourth-quarter sales report and optimistic guidance.
  • RB Global, Inc. (RBA) saw an 8.2% increase to $73.98 after surpassing projected fourth-quarter adjusted EPS results and providing positive guidance.
  • Victoria’s Secret & Co. (VSCO) gained 5% to reach $29.75.

Losers

  • Sequans Communications S.A. (SQNS) plummeted 65% to $0.8925 upon news of Renesas terminating a proposed acquisition deal.
  • Smith Micro Software, Inc. (SMSI) shares fell 41.5% to $0.4781 due to disappointing quarterly sales figures.
  • ModivCare Inc. (MODV) dropped 39.9% to $26.39 after issuing a weak sales forecast for the first quarter.
  • Greenbrook TMS Inc. (GBNH) experienced a 37% decrease to $0.1285 following its delisting from the Nasdaq.
  • Upland Software, Inc. (UPLD) tumbled 34.5% to $2.8890 after reporting lower-than-expected fourth-quarter adjusted EPS results and providing below-estimate FY24 revenue guidance.
  • Applied Optoelectronics, Inc. (AAOI) shares fell 31.2% to $14.00 after announcing fourth-quarter results.
  • MicroCloud Hologram Inc. (HOLO) fell 29.3% to $7.79.
  • Fox Factory Holding Corp. (FOXF) tumbled 27% to $47.38 due to mixed fourth-quarter financial results and disappointing FY24 EPS and revenue guidance.
  • ImmunityBio, Inc. (IBRX) fell 25% to $3.9299.
  • Vicor Corporation (VICR) recorded a 21.2% decline to $36.92 after reporting worse-than-expected quarterly financial results.
  • Gray Television, Inc. (GTN) fell 21.2% to $6.26 following a year-over-year decrease in fourth-quarter financial results and issuing below-estimate first-quarter revenue guidance.
  • La Rosa Holdings Corp. (LRHC) shares dipped 19.2% to $2.2150 after a fluctuation of around 96% on Thursday. The company recently acquired a 100% interest in the La Rosa Realty Winter Garden franchise in Florida.
  • The E.W. Scripps Company (SSP) fell 15% to $4.58 following weak quarterly earnings.
  • AlTi Global, Inc. (ALTI) dipped 14.6% to $6.02.
  • indie Semiconductor, Inc. (INDI) shares fell 14.2% to $5.91 due to weak quarterly sales.
  • nLIGHT, Inc. (LASR) fell 13.6% to $11.93 following fourth-quarter results.
  • ACCO Brands Corporation (ACCO) declined 12.2% to $5.64 after reporting fourth-quarter financial results and issuing weak FY24 guidance.
  • Super Micro Computer, Inc. (SMCI) fell 12% to $858.42 after announcing a private offering of convertible senior notes.
  • Booking Holdings Inc. (BKNG) shares fell 9.7% to $3,522.25 after reporting fourth-quarter financial results.
  • Warner Bros. Discovery, Inc. (WBD) fell 9.3% to $8.68 after reporting fourth-quarter financial results below expectations.
  • Penumbra, Inc. (PEN) fell 8% to $241.77 after reporting mixed fourth-quarter financial results.

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