Latin America’s largest tech firm, e-commerce and fintech juggernaut Mercado Libre, is on sale. The company’s share price has dropped 9% over the past 12 months even as its business has continued to rocket along at a 30%-plus revenue growth rate.

Investors are skittish about growing competition posed by Singapore’s Sea Ltd. in Mercado Libre’s largest market, Brazil. But investors may be overreacting: There is plenty of room for multiple players to succeed in expanding the Latin American e-commerce market. And Mercado Libre’s history of robust growth suggests its management team is skillfully walking the line between growth and profitability.