Schibsted’s share price has taken a huge dip on the local stock exchange since the start of trading this morning – it lost eight percent in morning trade.

It is difficult to find any other reason for the drop, than the news that Facebook Marketplace will be launching soon on Schibsted’s home turf – the Scandinavian countries.

The leading Schibsted-owned newspaper in Sweden, Svenska Dagbladet carried a story today explaining that Facebook Marketplace is a real threat to Schibsted. Especially to the Swedish marketplace Blocket, where all ads are charged.

And Svenska Dagbladet wasn’t the only paper publishing this story. The same kind of stories was also published in several other media in Norway.

The downward force pulled Schibsted’s B share to the region of NOK 160 in the early morning. That was pretty far away from the analysts’ target price of NOK 290 to 300, which they published in the wake of Schibsted’s Q2 results presentation.

The shares are clearly at risk of being haunted by the Facebook Marketplace ghost in the next couple of months, if not longer. In Norway, the trade volume was low and the number of shares few in each transaction, which points to the possibility that it has been the small, private shareholder who has jumped ship in response to the media reports in morning trade.

In other words, investors who don’t have access to our news feed. In recent weeks, we reported several times on the impending launch of Facebook Marketplace in Scandinavian countries (for instance here, and here).

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