There is really just one stock that would benefit most from antitrust action against Facebook

Evan Spiegel, CEO of SNAP Inc.
Stephen Desaulniers | CNBC

Over the past year, Facebook has shouldered the prospect of antitrust action as a former co-founder, presidential candidates and congress members have all called for the company to be broken up. The start to that process could come as soon as this year. The Wall Street Journal this month reported the Federal Trade Commission is now gearing up to possibly file an antitrust lawsuit against Facebook before the end of 2020. 

An antitrust lawsuit against Facebook would kick off a years-long process. And it is unclear just what consequences the tech company would face.

Among the possibilities are the divestment of Instagram, WhatsApp or both. The company could also face restrictions about what data it collects or how that data can be used to target ads to users.

But even just the existence of an antitrust case alone could create opportunity for Facebook's rivals. In particular, one company stands to benefit from antitrust action against Facebook.