MercadoLibre slides as Lula's Brazil election win rattles Latin American stocks
-7.81% to $1668.72 from $1810.15
What moved MELI
- MercadoLibre shares fell sharply after Luiz Inacio Lula da Silva won Brazil’s runoff election with 51.8% of the vote against Flavio Bolsonaro’s 48.2%, a result markets had not broadly expected after Bolsonaro led the first round.
- The decline came as Brazilian equities broadly sold off on the result, with Brazil’s Bovespa index and Brazil-exposed names such as Petrobras and Nu Holdings also falling sharply.
- Brazil was MercadoLibre’s largest market, contributing about $15.2 billion of its $28.9 billion in 2025 net revenue and financial income, or roughly 52.6% of the total, underscoring the company’s exposure to the country’s political outcome.
- Investors had bid up Brazil-exposed stocks in recent weeks on hopes a Bolsonaro win would bring business-friendly reforms and privatization; the election result unwound those gains.
Sources: RTTNews · Yahoo Finance · Investing.com