Discovering Potential Profit Gems in Three Surging Stocks

MercadoLibre

If you've never heard of MercadoLibre (NASDAQ: MELI), don't sweat it. Plenty of people haven't. That's because it only operates its business in Latin America. But what a business it operates! MercadoLibre is often referred to as the Amazon of Latin America, and it's not an unfair description. It's incomplete, though. In addition to its online malls as well as dedicated, company-specific shopping carts, this company also offers online and mobile payment services, plus logistics services to support these online operations. In many ways, the company's just as much like Shopify, PayPal, and eBay. In fact, it was more of an eBay clone in its early days. More important to current and prospective shareholders, MercadoLibre is very much in the right place at the right time with the right lineup of services.

DraftKings

DraftKings (NASDAQ: DKNG) shares are up more than 300% since the end of 2022, and still within sight of the 52-week high hit in March. A move of that size can certainly be intimidating to would-be buyers. Don't be intimidated, though. This rally is likely to persist for a long while.

Walmart

Last but not least, add Walmart (NYSE: WMT) to your list of stocks you can still feel good about buying even though they're flying. The world's largest retailer is just coming off of an incredible quarter. Revenue of $161.5 billion wasn't just up nearly 6% year over year, but handily topped estimates of $159.5 billion. Earnings of $0.60 per share also beat estimates of only $0.52, growing 22% from the year-earlier comparison of $0.49 per share. Same-store sales in the U.S. improved by 3.8%, while its e-commerce business grew a hefty 21%. In short, Walmart is firing on all cylinders.