TikTok’s strict ban may mean it’s a prime time to buy some Facebook stocks
Image via Meta Platforms
Remember when Trump tried to ban TikTok fear that China is monitoring the citizens of the United States? Well, the popular social media platform is going for round two with US lawmakers – a group of Senators just introduced a bipartisan bill that could neutralize the app.
The goal of the RESTRICT Act is to “identify and mitigate foreign threats to information and communications technology products and services,” and it would empower the United States government to be able to ban TikTok if it is deemed a threat to data security national.
Yahoo! Finance reports that shares of rival social media providers such as Meta and Snap had seen a spike in response to the news. If TikTok is definitively banned, analysts speaking to the publications may see more upside for the aforementioned stocks, as well as Google.
We are not financial advisors, but do you hate TikTok and would like to see it banned? Do you think he is likely to get the boot? Third, and most importantly, do you feel lucky, punk? If you answered yes to all three questions, it might be time to grab a couple of volatile tech stocks.
As an update, TikTok is under investigation as the government is concerned that the platform’s Chinese parent company ByteDance may be sharing US user data with the Chinese government. Beijing could use that data not only to monitor US citizens but also to influence what they see on stage.
This fear was a source of concern for former US President Donald Trump, who signed an executive order back in 2020 to ban the app. The order was blocked in the courts and later replaced by President Joe Biden. In a tense political situation between the United States and China, the concern about the security of data around TikTok has arisen again.
Anyway, do you want to know how to do the latest ‘moon phase soulmate’ move on stage? Probe eyes from around the world may or may not be included, proceed at your discretion.