Donald Trump Is Against TikTok Ban Because It Would Help 'Facebook And Zuckerschmuck' Double Their Business
Portfolio Pulse from Ananya Gairola
Former President Donald Trump has expressed opposition to a potential TikTok ban in the U.S., arguing it would unfairly benefit Meta Platforms Inc. (NASDAQ:META), the parent company of Facebook, by potentially doubling its business. Trump's stance is a departure from his previous support for banning TikTok, citing concerns over Facebook's influence. The proposed legislation, which could lead to a TikTok ban if ByteDance doesn't divest from the app, has passed the House Energy and Commerce Committee and is supported by President Joe Biden amid national security concerns.
March 09, 2024 | 3:06 am
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Donald Trump opposes a TikTok ban, suggesting it would benefit Meta Platforms Inc. (NASDAQ:META) by potentially doubling Facebook's business.
Trump's opposition to the TikTok ban highlights a potential indirect benefit for Meta Platforms, as a reduction in competition could lead to increased user engagement and advertising revenue for Facebook. Given Trump's influence and the current legislative momentum for the ban, this could have a positive short-term impact on Meta's stock as investors anticipate potential gains from reduced competition.
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