The Nasdaq Has Entered a Correction: Here Are 2 Stocks That Are Can't-Miss Buys

For the first time in a year, the Nasdaq 100 index has entered a correction, meaning a 10% drawdown from all-time highs. Even seemingly bulletproof stocks like Nvidia are crashing. Some stocks are down significantly more from their highs, with a level of carnage under the hood that is not reflected in the broad market indexes.

Two high-quality stocks well off recent highs are Coupang (NYSE: CPNG) and MercadoLibre (NASDAQ: MELI). Here's why both technology-focused e-commerce stocks are can't-miss buys today.

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MercadoLibre's market opportunity

MercadoLibre may be the Amazon of Latin America, but the intricacies of this region have led it to build a much different business model than its North American peer, which is actually a competitor in a few markets.

For example, digital payments were close to nonexistent for the majority of MercadoLibre's potential customers in Mexico, Brazil, and Argentina 15 years ago. This is why the company built Mercado Pago, a financial technology division that helps people manage their personal finances like a bank account and also process online payments for those without a credit card. This division has evolved into a financial powerhouse in the region, issuing 3 million credit cards alone in the fourth quarter of last year. Fintech revenue was $12.6 billion in 2025, up from less than $1 billion in 2019, and it still has plenty of opportunity ahead.

Its e-commerce marketplace was built different than Amazon due to the lack of third-party delivery infrastructure in the region. Originally, MercadoLibre relied on being an auction marketplace like eBay, then pivoted to primarily third-party sellers. Now, after years of investment, MercadoLibre has built its own delivery network to rapidly deliver items to customers across Mexico, Brazil, Argentina, and other countries, and has begun sourcing items from more international markets, such as China, to increase selection on its platform.

E-commerce revenue was $16.3 billion in 2025, and, combined with the fast-growing fintech segment, overall revenue grew 47% year over year last quarter. With the stock down 39% from recent highs, investors will do just fine buying MercadoLibre shares today and holding on over the next decade.

Coupang's pressing its advantage

Like MercadoLibre in Latin America, Coupang could be considered the Amazon of South Korea. It followed the Amazon model more closely, immediately building a layer of first-party assortment and a fast-delivery network in the small peninsula nation with a dense population of potential customers.

Now, Coupang is expanding its third-party capabilities, allowing merchants from Korea and around the world to connect to its network and start selling to Korean shoppers. It does not have a huge financial arm like MercadoLibre today, but Coupang is investing in financial services and has adjacent products such as video streaming, food delivery, and a fashion marketplace to help further drive demand. Perhaps most exciting is its major investment in its second geography, Taiwan. The island nation has more than 20 million well-off customers and is reportedly growing revenue for Coupang in the triple digits.

Coupang's revenue grew only 14% year over year in constant currency last quarter, and slowed significantly in late 2025 and early 2026 due to a data breach that became a political scandal in South Korea. Management said that revenue slowed in the last few months but has now begun to recover, which should put this leak behind Coupang.

Importantly, Coupang still has an unbeatable selection on its platform and rapid delivery times for customers. There's a reason it is the largest player in e-commerce in South Korea that continues to take market share. With the stock down 46% from all-time highs set less than six months ago, Coupang is a fantastic stock you can buy today and hold along with MercadoLibre to new heights over the next decade.

Brett Schafer has positions in Coupang. The Motley Fool has positions in and recommends MercadoLibre and Nvidia. The Motley Fool recommends Coupang. The Motley Fool has a disclosure policy.