Nonetheless, the prospect of a TikTok ban appeared to be helping those social-media stocks. Read: Could Congress actually ban TikTok in the U.S.? Analysts see ‘procedural and practical hurdles’ thru 2024.” He titled his note to clients: “No ‘Goodbye TikTok’ Party for META and SNAP Anytime Soon.” user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing.”īenchmark analyst Mark Zgutowicz wrote Thursday that he saw “a low probability of any formal TikTok ban in the U.S. “The best way to address concerns about national security is with the transparent, U.S.-based protection of U.S. U.S.“If protecting national security is the objective, divestment doesn’t solve the problem: a change in ownership would not impose any new restrictions on data flows or access,” TikTok spokesperson Maureen Shanahan said in a statement Wednesday night. Both Google and Meta Platforms stocks are also trading meaningfully up on Thursday. YouTube Shorts and Instagram, Mahaney added, are much more likely to directly benefit if TikTok goes out of the equation.
Snap is primarily a communications tool whereas TikTok is much more of an entertainment tool. There’s a huge amount of demographic overlap between Snap and TikTok but the use cases are different.
Still, Evercore ISI’s head of internet research Mark Mahaney doesn’t expect it to be the most notable beneficiary if TikTok is indeed banned in the United States. That’s up about 10% for the month at writing. Rumours of such a ban started surfacing again earlier this month helping If protecting national security is the objective, divestment doesn’t solve the problem: a change in ownership would not impose any new restrictions on data flows or access.Īlso on Thursday, the United Kingdom followed in Washington’s footsteps and banned TikTok on government devices.
Its spokesperson is also not convinced that a ban would resolve the said concerns. Remember that TikTok has reiterated several times that it doesn’t store U.S. ) is in the green today on reports that TikTok – the world-renowned short video app may face a ban in the United States to resolve concerns of national security.īiden Administration has asked ByteDance, the parent company of TikTok based out of China, to relinquish its stake in the short-form video hosting service or else the popular app will be banned in the U.S., as per the
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