Shares of eBay were trading sharply higher after the online marketplace said some of its listings can now be found on Meta Platforms’ Facebook Marketplace.
“This week kicks off our collaboration, with a pilot of select eBay listings appearing on Facebook Marketplace in the US, Germany, and France,” eBay said in a statement Wednesday.
The announcement arrived after Meta last year was fined EUR797.72 million by the European Commission for breaching EU antitrust rules by tying Facebook Marketplace to Facebook and “by imposing unfair trading conditions on other online classified ads service providers.”
EBay stock gained 11% to $70.32 in trading Wednesday, and was on track for its largest daily percentage increase since Feb. 1, 2018, according to Dow Jones Market Data. It also the best performer Wednesday in the S&P 500. Meta shares fell 0.7% to $613.54.