What's Going On With Snap and Meta Stock Wednesday?
Portfolio Pulse from Dylan Berman
Snap (NYSE:SNAP) and Meta (NASDAQ:META) shares are trading lower following Donald Trump's comments in support of TikTok, which he believes is necessary for competition against Facebook and Instagram. This comes after Joe Biden signed a divest-or-ban law earlier this year.
July 17, 2024 | 2:56 pm
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NEGATIVE IMPACT
Meta shares are down 3.58% following Trump's comments supporting TikTok, which he believes is necessary for competition against Facebook and Instagram.
Trump's support for TikTok introduces competitive pressure on Meta's platforms, leading to a negative market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Snap shares are down 5.48% following Trump's comments supporting TikTok, which he believes is necessary for competition against Facebook and Instagram.
Trump's support for TikTok introduces competitive pressure on Snap, leading to a negative market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100