Meta Platforms has announced plans to test a new feature that enables users of its Facebook Marketplace platform to browse listings from eBay and complete transactions directly on the e-commerce site. The move comes as a response to regulatory scrutiny in Europe, where Meta faced fines of around $840 million for allegedly breaking competition laws with its Facebook Marketplace policies.
The integration is set to launch in Germany, France, and the US, and will allow buyers to find products on eBay within Facebook Marketplace. The test aims to address concerns raised by regulators, while also benefiting users who utilize both platforms.
Ebay’s stock price surged over 11% following the announcement, as investors welcomed the move. Meanwhile, Meta’s stock price declined slightly. Ebay’s gains are attributed to its plans to use generative AI for product listings and efforts to cut costs through layoffs.
The integration is seen positively by analysts, who have responded to Ebay’s moves with optimism. The company’s adjusted earnings are projected to rise 14% in 2024, compared to 2% growth in the previous year. With an IBD Composite Rating of 95 out of a best-possible 99, Ebay’s stock is considered one of the best growth stocks in the market.
Source: https://www.investors.com/news/technology/ebay-stock-meta-stock-facebook-marketplace-ebay-listings