AzValor Comments on Melia

In the case of Meli (

XMAD:MEL, Financial), we made the exception of buying a Spanish company for our global fund due to the very attractive price (average exchange rate of 3 EUR /share) of its stock at the height of the pandemic. The shares of the company had increased in value by more than 130% when we sold it. Although we still see potential (and maintain it in our Iberian fund), at EUR 7/share the exception is less attractive.

From azValor Asset Management’s first-quarter 2021 commentary.

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