Klarna Stock Rises As PriceRunner Wins Antitrust Case Against Google

(RTTNews) - Klarna Group plc (KLAR) stock rose 5.71 percent, gaining $1.16 to $21.40 on Wednesday, after the company announced that a court ruled in favor of its subsidiary, PriceRunner, awarding $1.97 billion in damages in an antitrust lawsuit against Google.

The stock is currently trading at $21.40, compared with its previous close of $20.24 on the New York Stock Exchange. Shares opened at $21.99 and traded between $20.87 and $22.09 during the session. Trading volume reached 3.45 million shares, compared with the average daily volume of 5.63 million shares.

The ruling found that Google's preferential treatment of its own comparison-shopping service caused lost revenue for independent price-comparison platforms. Klarna cautioned that the damages award remains subject to appeal by Google and that any eventual recovery could be reduced by litigation-sharing arrangements and applicable taxes.

KLAR shares have traded between $12.06 and $47.48 over the past 52 weeks.