What happened Shares of MercadoLibre (NASDAQ: MELI), the Latin American e-commerce operator, were sliding last month in tandem with the coronavirus-related sell-off. Though there was no specific news out on the company, investors saw the spreading pandemic, which is just starting to affect Latin America, as a concern for the high-priced growth stock . According to data from S&P Global Market Intelligence, the stock finished the month down 21%. The stock tracked close to the S&P 500 for much of the month. ^SPX data by YCharts So what Coronavirus cases is Latin America have only recently begun to climb. Brazil now has more than 6,000 recorded cases, and Mexico, Argentina, and Colombia each have more than 1,000. However, countries have yet to impose the same kind of measures we've seen in the U.S. so it's not yet clear how MercadoLibre will be affected. In Brazil, the region's most populous country and MercadoLibre's biggest market, President Jair Bolsonaro, has continued to downplay the threat and refused to implement lockdown measures that have become commonplace in countries afflicted with the virus. Image source: Getty Images. Even so, the coronavirus may not be all bad news for MercadoLibre. In the U.S., demand for products from Amazon.com, the closest thing to an analog for MercadoLibre, has spiked during the crisis as stores are closed and customers look to it to deliver essential products. MercadoLibre doesn't own its own supermarket chain like Amazon does, so it may not be as well positioned for the crisis, but its payment network, MercadoPago, could also see heavy demand as more shopping moves online. Now what At this point, MercadoLibre may also be fairly priced for the incoming crisis, given that shares have already fallen 40% from its peak before the market crash. If the pandemic cripples the Latin American economy as it's doing with much of the rest of the world, then MercadoLibre is likely to see sales growth slow, but many of the risks in the stock already seem priced in. 10 stocks we like better than MercadoLibreWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and MercadoLibre wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jeremy Bowman owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon and MercadoLibre and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.Source