Does the Bill That Could Ban TikTok Make Meta a Buy?
Three U.S. lawmakers introduced a bill on Dec. 13, titled the "ANTI-SOCIAL CCP Act", which is aimed at blocking foreign influence and surveillance of Americans by foreign governments, most specifically Russia and the Chinese Communist Party.
The bipartisan group of lawmakers sponsoring the bill released a joint statement, calling out the national security risks that TikTok represents to the U.S. as a tool to collect data on the tens of millions of Americans who use it, and to manipulate and influence their views and opinions in ways that are detrimental to the United States.
So what does this potential ban mean for U.S. social media companies, in particular Instagram and Facebook parent Meta Platforms (NASDAQ: META)? In recent years, Meta's growth has slowed, while the emergence of TikTok has significantly hindered user engagement. So if TikTok were to get booted out of the U.S., how much more attractive would that make Meta as an investment?
Source Fool.com
