What's Happening With SNAP Stock?
Portfolio Pulse from
Snap's stock (NYSE: SNAP) fell 6% following reports that the Trump administration may try to stop a potential U.S. ban on TikTok. ByteDance, TikTok's owner, has until January 19, 2025, to find a new U.S. owner or face a ban.
November 13, 2024 | 3:15 pm
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Snap's stock declined by 6% due to concerns over a potential halt to a U.S. ban on TikTok, which could increase competition for Snap.
The potential halt of a TikTok ban could mean increased competition for Snap, as TikTok remains a strong competitor in the social media space. This news likely led to the 6% drop in Snap's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80