The Latest On TikTok Ban: Meta Stock Rallies, Oracle Slides In Market
The recent news of the Supreme Court signaling it may uphold a ban on TikTok has caused a stir in the stock market. The popular shortform video social media app has been a favorite among users, but with the possibility of a ban looming, investors are reacting accordingly.
Shares of companies behind rival platforms have seen a boost in response to the news, with Meta (formerly known as Facebook) experiencing a rally in its stock price. Meta has been working to expand its presence in the shortform video space, and a potential TikTok ban could provide an opportunity for the company to capture more market share.
On the other hand, Oracle, a key partner of TikTok, has seen its stock slide in reaction to the news. Oracle had previously been involved in discussions to acquire a stake in TikTok’s US operations, but a ban on the app could impact its investment in the platform.
As the market reacts to the potential TikTok ban, investors are closely monitoring the situation and adjusting their strategies accordingly. It remains to be seen what the final decision will be, but for now, the uncertainty surrounding TikTok’s future has created a ripple effect in the stock market.
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