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NEW YORK ( TheStreet) -- Mercadolibre (Nasdaq: MELI) hit a new 52-week high Wednesday as it is currently trading at $99.11, above its previous 52-week high of $98.75 with 311,063 shares traded as of 12 p.m. ET. Average volume has been 660,300 shares over the past 30 days. Mercadolibre has a market cap of $3.91 billion and is part of the services sector and diversified services industry. Shares are up 19.7% year to date as of the close of trading on Tuesday. MercadoLibre, Inc., together with its subsidiaries, hosts online commerce and payments platforms in Latin America. Its services are designed to provide its users with mechanisms to buy, sell, pay for, and collect on e-commerce transactions. The company has a P/E ratio of 59.3, above the average diversified services industry P/E ratio of 54.7 and above the S&P 500 P/E ratio of 17.7.