MercadoLibre Jumping Sharply On Heavy Volume

MercadoLibre, Inc.

shares are bucking the broader market trend, gaining more than 2% on heavy volume. MercadoLibre, which is known as the eBay

of Latin America, are up nearly 3%. Shares spiked at about 11:30 a.m., but there was no news for the spike, so it will be interesting to see what comes out during the rest of the day. At last check, shares were trading at $90.71, a gain of $2.59‎ or 2.94%‎. MercadoLibre, Inc., through its subsidiaries, hosts online commerce and payments platforms in Latin America. Its services are designed to provide its users with mechanisms to buy, sell, pay for, and collect on e-commerce transactions.