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My best move ever: bought 100 Mercadolibre (MELI) shares: up 40% in 3 weeks. December 8, 2008

Posted by deminvest in growth stock, Internet stocks, investment, MELI, Mercadolibre, my free stock, My investing mistakes, nasdaq, Nasdaq stock, Single stocks, stock I own, stocks.
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Will MELI be the Ebay of Latin America?

Will MELI be the Ebay of Latin America?

Amazing… three weeks ago I wrote that Meli was my worse move ever.
Today I hit my 40% up target, got my invested money back and kept my remaining Mercadolibre shares as free stock.

This is what happened:

on November 13, 2008:

At 10:41:40 am Eastern time, I bought 100 MELI shares at $ 10.42 each, sepnding $1042 overall

At 01.00 pm my 100 MELI are worth $ 9.38 each. Down more than 10% in less than three hours.

Today:

Mercadolibre hit my 40% up target. As my 100 MELISs hit 40% target I:

1) Sold 73 MELI shares at $ 15.07 each cashing a total amount of $ 1110, more than what I spent to buy 100 a few weeks ago.

2) Kept 27 MELI shares left (worth $407). They are now free stocks, thanks to my FREE STOCK STRATEGY.

This is why I bought Mercadolibre in the first place… which I can now say was a good idea 🙂

Comments»

1. Aman - December 8, 2008

awesome turn around! I was reading in the last post how you got hit on the drop…its a good idea to ride the “free” stocks and see what further uptick you can get.

2. deminvest - December 9, 2008

Thanks Aman,

I have been following the free stocks strategy for 10 years. I like it very much, specially in bearish times:

1) since most of the stocks are free stocks that I haven’t paid, it is less painful to see them fall.

2) I like to be able to buy stocks like Mercadolibre (that I have been eying for years) at such low prices and sometimes, due to the swings of this crazy market, I can get my money back and turn them to free stocks in a short time-span.

3. RnS - December 10, 2008

Awesome!

Also, would it possible to separate your Icarra profile into the free and non-free stocks? Would be very helpful!

4. deminvest - December 12, 2008

Thank you Rns,

it is a great idea to separate them in ICARRA.
It will be very useful also for myself. I’ll definitely do. I hope I will be able to beat my laziness and do it soon 🙂


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