Meet the Latin American eCommerce Platform That’s Outperforming Amazon This Year

One of the world’s largest eCommerce companies is emerging as a top pick on Wall Street as investors look for tech opportunities beyond the Magnificent Seven.

MercadoLibre, an Argentinian eCommerce and payments platform that’s incorporated in Delaware and actively traded on Nasdaq, is up 34% in 2024, compared to a roughly 27% rise for Amazon, and 20% for the S&P 500. The company was founded 25 years ago by CEO Marcos Gaplerin at the height of the dot com boom. It now dominates online sales in Brazil, Argentina, Mexico, Chile and makes up roughly half of online sales in South America, according to eMarketer. It also operates a digital payments platform called Mercado Pago.

Roughly 90% of Wall Street analysts who cover the stock rate it a “buy,” with an average price target of $2,268 — about 8% upside from where it was trading this week, according to FactSet. There are no sell ratings.

Brad Gerstner of Altimeter Capital is one such bull. He highlighted expanding profit margins and MercadoLibre’s AI potential as reasons he’s “excited” by the stock.

How Shopify Blends Carbon Capture and Ecommerce Sales

On Shopify’s eCommerce technology platform, carbon-removal company Graphyte and ranching business Sneary Cattle are selling carbon-removal credits to other businesses, households and individuals.

Shopify Inc. sees a robust future in the business of buying and selling carbon credits online.

Last week it introduced Carbon Commerce, which “is a new way for climate tech companies, project developers, and brokers to manage and sell carbon credits,”?David Vranicar, Shopify’s product operations lead for sustainability, announced on?LinkedIn.

Carbon Commerce enables sellers on the Shopify eCommerce platform “to manage various transaction types, including pre-purchase agreements, long-term offtakes, and spot purchases,” Shopify says. It adds that the platform also provides inventory management tools that “project evolving stock levels, ensuring sellers can confidently match supply with demand.”

The platform integrates with?CRM?and?ERP?systems, such as?HubSpot?and?Salesforce, as well as carbon-specific management companies including carbon storage provider Frontier Carbon Solutions,?data management firm Alcove, and Isometric, which certifies carbon credit sales transactions.

ASOS Set To Cut 200+ Jobs – Report

Under-pressure ASOS is to axe 200+ jobs at its Camden, London HQ as it aims to simplify its organisation in a drive to return to profit, according to reports.

The Mirror newspaper first reported that it has begun a consultation process?and those most at risk include?business analysts, engineering managers, and platform leads.

The number of employees at the business won’t change overall with more jobs being created in other areas, particularly in software engineering and product management.

It comes as the company fights back from losses, which widened to ￡120 million in its latest earnings report back the spring on the back of sharply lower sales.

ASOS — like rival?Boohoo?— has struggled in recent years after a golden period during the pandemic in which fashion online retailers boomed.?

But the post-pandemic years have seen shoppers returning to physical stores, while rivals across the price spectrum (such as?Shein?or?Zalando) have eaten into their market share. And the cost-of-living criss has seen consumers reining in fashion spend while increasing eco-consciousness has meant some have turned away from fast fashion altogether.