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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Mercadolibre (Nasdaq: MELI) hit a new 52-week high Friday as it is currently trading at $124.54, above its previous 52-week high of $124.40 with 294,277 shares traded as of 12 p.m. ET. Average volume has been 586,500 shares over the past 30 days. Mercadolibre has a market cap of $5.27 billion and is part of the technology sector and internet industry. Shares are up 51.9% year to date as of the close of trading on Thursday. MercadoLibre, Inc. hosts online commerce platforms in Latin America. Its services are designed to provide users with mechanisms for buying, selling, paying, collecting, generating leads, and comparing listings through e-commerce transactions. The company has a P/E ratio of 53, above the S&P 500 P/E ratio of 17.7.