EDIT 3PM: Readers point to Venezuela devaluation of currency; I saw the headline last night right before I fell asleep and thought I read a 5% devaluation. Apparently it's a 50% devaluation by Mr Chavez.
- Mercadolibre (MELI) shares are down sharply this morning after Venezuela over the weekend set a 50% devlauation of the bolivar against the dollar.
- As the WSJ notes, Venezuelan President Hugo Chavez weakened the bolivar to 4.3 to the dollar from 2.15 “in a bid to shore up government finances, which have been hit by weaker oil prices, and to stimulate economic growth ahead of key elections.”
No position but interested