Daily Stock Pick: February 9th, 2023

Since 2003, when the number of poor and vulnerable people in the world reached a historical peak of 4.4 billion people, the middle class has been growing fast. By 2030, another 700 million people are expected to join the global middle class, making it more than half of the world’s total population. Expanding international economies, increasing productivity, and improving standards of living are the first indicators of the rise of a new global middle class. Indeed, it seems as if the world’s most dramatic economic growth over the next century will occur outside the U.S. 

For market participants looking to strengthen their portfolios through diversification or create new avenues to explosive growth, international stocks can be an excellent addition. Today’s recommendation is well positioned to benefit as Latin American economies recover to new heights.    

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MercadoLibre (MELI) is a leading provider of e-commerce and fintech services in Latin America.   The company operates an e-commerce marketplace with a dominant presence in some of the most populous nations in the region, including Brazil and Argentina. MercadoLibre has continued to increase sales at a rapid clip despite macroeconomic headwinds. The business’s forefront positions in online retail and fintech point to huge expansion potential as these services become more popular in Latin America.