What's Going On With eBay Shares On Tuesday?

eBay Inc. EBAY shares are trading lower on Tuesday. The company successfully won the dismissal of a U.S. Environmental Protection Agency (EPA) lawsuit filed last year.

In 2023, the U.S. government pressed charges against eBay, alleging breaches of environmental regulations.

The charges primarily revolved around eBay’s alleged role in facilitating the sale of products that violate environmental norms.

The U.S. Department of Justice alleged that eBay has allowed its platform to be used to sell over 343,000 “defeat” devices.

On Monday, U.S. District Judge Orelia Merchant in Brooklyn ruled that Section 230 of the Communications Decency Act covers eBay from responsibility in the case, Reuters reported.

She rejected the government’s claim that eBay should be considered a seller simply because it facilitated the exchange of products for money.

In another development, on Tuesday, eBay stated that it eliminated selling fees for consumer-to-consumer (C2C) sellers in the U.K. for domestic transactions across all categories except motors.

This move follows the earlier introduction of free selling for pre-owned apparel categories for UK C2C sellers.

Apart from this, the company rolled out improvements for U.K. customers, including a simplified listing process, easier delivery, enhanced local pickup, and improved wallet functionality with eBay Balance.

eBay also plans to introduce a buyer-facing fee in the U.K. in early 2025, along with buyer enhancements that offer added value.

Investors can gain exposure to the stock via ProShares Online Retail ETF ONLN and Global X E-commerce ETF EBIZ.

Price Action: EBAY shares are down 0.90% at $64.53 at the last check on Tuesday.

Image via Shutterstock

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