Snap-jump after potential TikTok ban – E24

Snap-jump after potential TikTok ban – E24

The company behind Snapchat rose more than 9 percent on Wall Street the day after Senator Mark Warner announced a possible ban on Chinese technology, including the mobile app TikTok.


On Sunday, the chairman of the Senate Intelligence Committee, Mark Warner, announced to Fox News that the committee plans to introduce a bill that would allow the United States to ban Chinese technology such as the video-sharing app TikTok, he writes. bloomberg.

This led to a sharp jump in Snap shares, which rose more than 9% on Wall Street, the largest increase since November 2022, according to CNBC.

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Other tech companies have also risen since the news of TikTok surfaced. Pinterest rose by 1.06 percent.

Not the first time

Critics of TikTok are also concerned that China is using the mobile app to monitor users.

“They pass data off Americans and don’t keep it, but my biggest concern about TikTok is that it could be a propaganda tool,” Mark Warner told Fox News on Sunday. CNBC.

This is not the first time a ban on TikTok has been proposed in the US. Already in 2020, Donald Trump wanted to ban the mobile application.

Hanisi Anenih

Hanisi Anenih

"Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst."

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