Why MercadoLibre Stock Fell 19.8% in November

Shares of Latin American e-commerce and fintech leader MercadoLibre (NASDAQ: MELI) declined 19.8% in November, according to data from S&P Global Market Intelligence. While MercadoLibre reported third-quarter earnings during the month, that doesn't seem to be the culprit behind the fall, as the stock rose immediately after reporting. Rather, an unexpected mid-month equity offering started the decline, which was later accentuated by a sharp drop in growth stocks brought on by tightening financial conditions.