Why Facebook Stock Jumped on Thursday

Shares of Facebook (NASDAQ: FB) jumped on Thursday, rising 5.8% as of 2:45 p.m. EDT.

The stocks' gain follows news on Wednesday that the social network is launching a TikTok competitor within its Instagram app. Given TikTok's success, investors are likely hoping the new feature will be a major catalyst for Instagram.

Image source: Getty Images.

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Source Fool.com