- Snap shares surged nearly 8% to $11.15 while Meta shares rose a little over 3% to $203.49 after WSJ reported that TikTok faces a possible ban in the U.S. if ByteDance fails to comply with the Biden Administration’s proposition.
- Investors believe that if TikTok were to be banned in the U.S., social media companies like Snapchat and Meta would regain users lost to the short-form video platform.
