Down 35%, Is MercadoLibre Stock a Better Buy than SpaceX and the "Magnificent Seven" Stocks in July?
The largest-cap stocks may have limited upside.
Overview
Some stocks get most of the market's attention. Space Exploration Technologies, otherwise known as SpaceX, has been in the limelight since before its initial public offering (IPO) on June 12, and the "Magnificent Seven" stocks (Apple, Alphabet, Amazon, Microsoft, Nvidia, Meta Platforms, and Tesla) frequently dominate the news cycle.
However, you'll usually find the best investments out of the spotlight. Consider how much a stock can continue to reward investors if it's already worth several trillion dollars. These companies might have great features that make them worth buying, but they won't be the ones that turn a small investment into six or seven figures.
Details
If you're looking for a fantastic, high-growth stock, consider MercadoLibre (NASDAQ: MELI). It's 35% off its high, and it could be a better buy than SpaceX or any Magnificent Seven stock. Here's why.
Source
Originally published at www.fool.com.