3 Soaring Stocks I’d Buy Now With No Hesitation

Given the choice, most investors prefer buying stocks on a dip rather than during (or after) a rally. Why pay more when you can pay less? Paying less means more eventual profits.

Sometimes, though, it’s worth jumping into a stock while it’s on the way up. There may not be a pullback coming anytime soon. Waiting could end up being costly instead of helpful.

With that as the backdrop, here’s a closer look at three such soaring stocks to consider stepping into now despite their current strength. There’s too good of a chance for more immediate upside.

MercadoLibre

If you’ve never heard of MercadoLibre (NASDAQ: MELI), don’t sweat it. Plenty of people haven’t. That’s because it only operates its business in Latin America. But what a business it operates!

MercadoLibre is often referred to as the Amazon of Latin America, and it’s not an unfair description. It’s incomplete, though. In addition to its online malls as well as dedicated, company-specific shopping carts, this company also offers online and mobile payment services, plus logistics services to support these online operations. In many ways, the company’s just as much like Shopify, PayPal, and eBay. In fact, it was more of an eBay clone in its early days.

More important to current and prospective shareholders, MercadoLibre is very much in the right place at the right time with the right lineup of services.

How so? In many ways, South America is now where North America was 20 years ago. Although the region has certainly had high-speed internet and mobile phones for many years, these things are only just beginning to become common in the region. Atlantico reports that between 2012 and 2022, the continent’s internet penetration rate grew from 42% to 74%. That’s a big change in just one decade.

Yet, access to the web still isn’t universal. S&P Global Market Intelligence says that only a little over half of Latin America’s homes have access to broadband service, while market research firm Phocuswright suggests Latin America’s mobile phone penetration rate will only reach 75% by 2025.

The point is, while South America’s…

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