Senator Mark Warner has conveyed that a cross-party group of 12 U.S. senators will introduce legislation today giving the U.S. Secretary of Commerce new authority to impose a complete ban on TikTok, owned by privately held Chinese conglomerate ByteDance.
- In recent years, TikTok's policies have repeatedly attracted the attention of U.S. regulators, citing privacy and data processing issues. The discussion of a viable ban on the platform comes as relations between Washington and Beijing have cooled again following incidents involving a Chinese balloon and an American visit and sale of hundreds of millions of dollars worth of F-16 munitions to Taiwan;
- Potentially, the TikTok ban will increase U.S. market share for rival platforms especially Snap (SNAP.US), Meta Platforms (META.US) and Alphabet (GOOGL.US), which could benefit the stocks of these companies.
Snapchat (SNAP.US), Meta Platforms (yellow color) and Alpahbet (purple color) stocks, D1 interval. Source: xStation5
Alibaba sell-off extends amid White House national security concerns📌
US Earnings Season Summary 🗽What the Latest FactSet Data Shows
US Open: US100 initiates rebound attempt 🗽Micron shares near ATH📈
Micron Surges on Record DRAM Pricing
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
