eBay's U.S. stock rose 8.7% in early trading, marking the largest intraday increase since November 2021.
Meta Platforms, the "metaverse company" owned by Mark Zuckerberg, proposed advertising solutions to comply with the European Union's antitrust orders.
Meta hopes to publicly generate a list of eBay's confidential advertisements on its Facebook Marketplace, applicable in Germany, France, and the United States.
At that time, "buyers will directly generate listings from eBay on Facebook Marketplace and complete their transactions on eBay."
Previously, the European Union imposed a fine of €798 million (equivalent to $822 million) on Meta for abusing its dominance in the online advertising market.
Currently, Meta is still appealing the aforementioned fine in multiple courts in the European Union