Benzinga | Dec 16, 2020 12:16PM EST

Why Fiverr's Stock Is Trading Lower Today

Fiverr International Ltd (NYSE:FVRR) shares are trading lower after a report said Facebook Inc (NASDAQ:FB) is planning to offer service-booking through its app.

If the move does go ahead, Facebook would rival the gig economy apps such as TaskRabbit, Fiverr, and Angie's List, according to The Information.

Fiverr International is involved in buying and selling digital services in the same fashion as physical goods on an e-commerce platform. It is set out to design a digital marketplace that is built with a comprehensive SKU-like services catalog and a search, finds, and order process that mirrors a typical e-commerce transaction.

Fiverr International shares were trading down 1.31% at $203.14. The stock has a 52-week high of $211.36 and a 52-week low of $20.42.