Why Meta Platforms Stock (Finally) Gained Ground Tuesday Morning
Shares of Meta Platforms (NASDAQ: META) finally reversed their ongoing slump Tuesday morning, climbing as much as 4.6%. By 2:22 p.m. ET the stock was still up 3.8%.
The social media titan finally got some (potentially) good news, as government regulators consider banning one of company's strongest competitors.
A commissioner with the Federal Communications Commission (FCC), Brendan Carr, said in an interview with Axios that the Committee on Foreign Investment in the U.S. (CFIUS) should ban short-form video platform TikTok. The company is currently in talks with CFIUS, which is charged with governing foreign companies operating in the U.S. and conducting national security reviews. The regulatory body has been working to determine if TikTok should be spun off from its Chinese parent, ByteDance, in order to continue operating within the U.S.
Source Fool.com
