Mercado Libre (MELI) an Emerging Market Stock?

Would you consider $MELI a U.S. or emerging market stock? Now, I know Mercado Libre only operates in Latin-America. However, it's on the NASDAQ and you actually own a portion of the company when buying it (unlike BABA which is ADR on the Cayman Islands and technically you do not own a share of the actual company in China).

Since South America is considered an emerging market, would you then classify $MELI as an emerging market stock, even though it's listed on the NASDAQ?


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