Payment/E-commerce stocks are under significant pressure right now. We've witnessed companies like MercadoLibre, Paypal, Lightspeed, Mastercard, Square take a pretty big tumble from their highs.
I'm a fan of MercadoLibre. Going to see very strong growth in the future, at least it should if things go right. However, a recent giant $1.5B share offering and simply the pressure on tech/payment companies is causing some huge pressure, we're talking 30%+ from September prices. Most of these companies (Mercado included) have very rich valuations, so they are prone to some very significant volatility.
I've mentioned it on the Discord a few times now as a lot of questions have come in regarding these types of companies and when people should buy. I'd rather let prices settle and see a bit of a turnaround before I'd choose to buy. Sure, you miss potentially catching the bottom of prices, but you also won't be buying at the absolute peak of volatility where prices could sink another 10-30%.
Buying right now is essentially driving into the center of the storm. Many might choose to simply let the storm pass, and buy when the volatility is a bit lower.