The article says MercadoLibre (MELI) is trading about 38% below its highs and compares it with the 'Magnificent Seven' megacaps and SpaceX, which it values at $1.8 trillion. MercadoLibre's second-quarter revenue rose 50% year over year, its fastest pace in almost four years, with gross merchandise volume up 44% and total payment volume up 56%. Profitability has been under pressure over the past two quarters as management invests for the future, including lowering Brazil's free shipping threshold from R$79 to R$19. Management says it is investing boldly to seize the long-term opportunity in Latin America, where e-commerce and digital finance still lag other regions.
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