MELI · PEAD ↓ 80

MercadoLibre reported Q1 2026 EPS of $8.23 on 2026-05-06, missing the $11.89 consensus by $3.66 (–30.8%).

Print-day reaction was a muted +1.3% versus the prior close, an underwhelming initial bounce given the severity of the EPS miss. The overnight gap to the T+1 open added a further +0.5%, briefly suggesting the market was willing to look past the shortfall. That optimism unwound sharply: the Day 1–3 drift came in at –16.7%, a decisive reversal of the print-day move as sellers reasserted control. Cumulative abnormal return of –16.5% versus SPY.US lands this firmly in PEAD short territory; the pattern read holds through 2026-08-03.