How a potential TikTok ban could impact social media stocks
TikTok could face a potential ban in the U.S. We analyse how it could impact other social media stocks such as Facebook's parent Meta. What happened? Everyone's talking about TikTok CEO's Chew Shou Zi's grilling in the US Congress this week. TikTok, the popular social media app owned by Chinese parent Bytedance, now has more than 150 monthly active users in the U.S. That's close to half of the population of the entire country! However, with growing national security concerns, the Biden administration is now demanding that TikTok's Chinese owners sell their stakes or face a potential ban in the US, according to the Wall Street Journal Here’s how the uncertainty about the future of TikTok could benefit other social media platforms like Snap, Instagram, and YouTube.