From Nasdaq: 2024-05-09 05:25:00

President Joe Biden signed a bill that could ban TikTok if its Chinese parent company, ByteDance, doesn’t sell it within 270 days. ByteDance is challenging the legislation, setting the stage for a legal battle over national security concerns and free speech protections for the app’s U.S. users.

Three social media stocks, Meta Platforms, Alphabet, and Snap, could benefit from a TikTok ban. Meta struggled in 2022 due to TikTok’s popularity but has since rebounded. Alphabet’s YouTube Shorts and Snap’s need for profitability make them potential winners if TikTok is no longer available in the U.S.

Investors should consider the potential impact of a TikTok ban on these companies before investing in Meta Platforms, Alphabet, or Snap. Other tech stocks recommended by analysts could offer better opportunities for growth, as seen in historical returns from previous stock recommendations by The Motley Fool’s Stock Advisor service.

Board affiliations with Alphabet and Meta Platforms executives and company disclosures are noted. The author has no personal stock positions mentioned but acknowledges The Motley Fool’s positions and recommendations. The opinions expressed in the article may not represent those of Nasdaq, Inc.



Read more at Nasdaq: 3 Stocks That Could Soar if TikTok Is Banned