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MercadoLibre, Inc. (NASDAQ:MELI) is one of the 14 Most Promising Fintech Stocks to Invest In. On December 10, MercadoLibre, Inc. (NASDAQ:MELI) and Agility Robotics announced a commercial agreement. Agility Robotics is the creator of the leading humanoid robot called Digit.
This agreement will bring Agility Robotics’ Digit humanoid robot into MercadoLibre, Inc.’s (NASDAQ:MELI) facility in San Antonio, Texas. Initially, Digit will help with tasks that support commerce fulfillment.
MercadoLibre, Inc. (NASDAQ:MELI) and Agility Robotics also plan to find more use cases where AI-powered humanoids can support and add value to logistics operations in MercadoLibre, Inc.’s (NASDAQ:MELI) warehouses across Latin America.
The main goal here is to automate jobs that are hard to recruit for, especially those that are extremely repetitive and physically difficult. This could help improve safety for the company’s workers and also reduce labor gaps. By using robots and automating these tasks, MercadoLibre, Inc. (NASDAQ:MELI) hopes to increase productivity and allow employees to focus on more value-added work.
In other news, on December 5, TipRanks reported that Citi analyst Joao Soares reiterated a Buy rating on MercadoLibre, Inc. (NASDAQ:MELI). The research firm has a price target of $2,500 on the stock.
On December 3, TipRanks reported that BTIG analyst Marvin Fong reaffirmed a Buy rating on MercadoLibre, Inc. (NASDAQ:MELI) with a price target of $2750.00.
MercadoLibre, Inc. (NASDAQ:MELI) is the leading e-commerce and financial technology company in Latin America with a presence in 18 countries.
While we acknowledge the potential of MELI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 15 Best Technology Penny Stocks to Buy and 15 Best Aggressive Growth Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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