Snap stock falls 2.3% as U.S. Supreme Court agrees to hear TikTok’s legal challenge

From Investing.com: 2024-12-18 11:57:02

Shares of social media companies had mixed performances, with SNAP falling 2.3% and Meta Platforms up 0.2% after the U.S. Supreme Court agreed to hear TikTok’s bid to block a law that could impact its operations. TikTok, with 170 million U.S. users, presents a significant challenge to Snap and Meta.

The Supreme Court will hear arguments on Jan. 10 regarding TikTok’s legal challenge, which could have far-reaching implications for the social media industry. The uncertainty surrounding TikTok’s future has led to stock movements for companies like SNAP and Meta, with investors closely monitoring developments that could impact the competitive landscape.

The legal battle surrounding TikTok has added complexity to the social media sector, with potential ramifications for industry players like Snap and Meta. As the situation unfolds, market reactions to news related to TikTok’s fate in the U.S. will continue to influence stock prices and investor sentiment in the competitive social media landscape.



Read more at Investing.com: Snap stock slides on TikTok legal challenge; Meta wobbles but holds gain By Investing.com