From Nasdaq: 2024-04-28 10:41:00

The Senate passed a foreign aid package with a provision that could lead to a TikTok ban if its Chinese owner, ByteDance, does not divest it within a year. Lawmakers have raised concerns about user data sharing and Chinese propaganda. The implications of a ban are significant for the app’s 1 billion users and American businesses and influencers. Meta Platforms and Alphabet are potential beneficiaries of a TikTok ban, as the social media giants could capture users and ad spending. YouTube, owned by Alphabet, is seen as a competitor to TikTok, with the introduction of YouTube Shorts. Investors should consider the potential impact of a TikTok ban on Meta and Alphabet stocks, as regulatory action could take years to have a meaningful effect.



Read more at Nasdaq: TikTok Ban Passed by the House. 2 “Magnificent Seven” Stocks That Could Benefit