Adevinta wins auction to buy eBay's classified ads unit

By: Miguel A. Rodriguez

09:45, 14 September 2020

TikTok sends Dogecoin skyrocketing.
  • Norway’s Adevinta has won the auction to buy the bulk of eBay’s classified ads unit for nearly $9 billion
  • Price and trade volume of Dogecoin exploded following a get-rich-quick TikTok challenge that went viral, followed by a humorous tweet by Elon Musk
  • S&P 500 edged higher as investors rotated into cyclical stocks, optimistic that Washington will deliver a new round of stimulus

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