MELI · PEAD ↓ 16

MercadoLibre reported Q2 2026 EPS of $9.19 on 2026-08-05, beating the $8.69 consensus by $0.50 (+5.8%).

Print-day reaction was +1.8% versus the prior close, a modest lift that suggested the beat was only partially priced in. The overnight gap to the T+1 open was sharply negative at -5.0%, indicating that after-hours sentiment reversed course decisively. Over the subsequent two trading days the price drifted an additional -0.3%, extending the post-gap weakness with no meaningful recovery. Cumulative abnormal return of -3.6% versus SPY.US places this in PEAD short territory — drift confirmed the overnight reversal rather than the print-day pop; the signal holds through 2026-11-02.