Shares of MercadoLibre Inc. MELI, -6.95% sank 5.6% in morning trading Tuesday, after the Latin America-based e-commerce platform said it raised $1.55 billion through public stock offering of 1 million shares that priced at a discount. The company said the offering, plans of which were announced late Monday, priced at $1,550.00 per share, which was 5.1% below Monday’s closing price of $1,633.21. The 1 million-share offering represented 2.0% of the shares outstanding as of Nov. 3. The stock has declined 14.1% over the past three months, while the S&P 500 SPX, +0.28% gained 4.8%.
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