The House Just Passed the TikTok Ban. Here's What That Means for Meta Stock.
The U.S. House of Representatives passed a bill on Saturday that's not good for popular social-media app TikTok. But it may have gone unnoticed by many investors because it was packaged inside of a foreign aid bill for Ukraine and Israel. Because of the bill, TikTok's parent company is faced with the choice of selling its popular app in the U.S. or pulling it from the U.S. market entirely.
Facebook's parent company Meta Platforms (NASDAQ: META) is seen as a clear beneficiary of the TikTok legislation. I'll explain why that's the case but I'll also explain why Meta investors might want to tap the brakes on their enthusiasm.
I've noted that the TikTok bill made it through the House of Representatives but this doesn't mean it's now a done deal. The bill still has to make it through the Senate. And after that, it has to be signed by President Biden.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 14 Buy predictions and 2 Sell predictions.
As a result the target price of 515 € shows a positive potential of 22.66% compared to the current price of 419.85 € for Meta Platforms Inc..
