The impending ban on TikTok has boosted the stock prices of competitors like Snap Inc. and Meta, with Snap's stock rising 8.3% and Meta's 3.7%.
Both Snap and Meta are poised to benefit from TikTok's potential shutdown this weekend, as their platforms could gain millions of new users.
Snap launched a 'find your favorites on Snapchat' initiative, indicating a strategic move to attract more users amid TikTok's challenges.
Concerns over TikTok’s data practices have intensified, leading to a law requiring ByteDance to divest its U.S. operations to remain active in the market.
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