5:46 PM · 12 November 2024

Snap slides 4% amid WaPo reports about Trump halt TikTok ban in the US

Shares of Snap Inc. (SNAP.US) are losing nearly 4% after the Washington Post cited anonymous sources claiming that Donald Trump will make efforts to stop the blockade of Chinese social networking platform TikTok in the US. Democrats have accused Chinese company ByteDance (behind TikTok) of striking a blow to US national security by disposing of collected data on Americans. The accused company denied all reports. Snap, given its difficult financial situation, could potentially be the company most affected by the continued presence of its rival TikTok in the United States.

Source: xStation5

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