TikTok Loses Court Appeal Against Ban, Meta, Reddit Stocks Hit All-Time High

Quick Summary:

The ruling, delivered by a U.S.appeals court on Friday, upheld the legislation requiring the platform to sell to a non-Chinese owner or face being removed from U.S.app stores by January 19, 2025, CNN reports.

Social media stocks Facebook and Instagram parent Meta Platforms, Inc (NASDAQ:META), Reddit, Inc (NYSE:RDDT), and Snap Inc (NYSE:SNAP) surged on the reports.

Meta Platforms stock hit its all-time high of $629.90 on the news, and Reddit hit an all-time high of $159.83 at the time of writing.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesTaiwan

Topics: Benzinga Legal GOOG SNAP Government Stories That Matter US38259P7069 RDDT US0231351067 META Movers Regulations Briefs Tech GOOGL Media News US38259P5089 AMZN Emerging Markets Top Stories

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-06 @ 17:33:22 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Readers: 53 people read this story

Article Length: 447 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 24173298

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