Snaps tik tok6/15/2023 ![]() Meanwhile, the stock has lost 78% so far this year. The average Snap price forecast of $10.62 implies 2.6% upside potential to current levels. On TipRanks, Snap stock has a Hold consensus rating based on seven Buys, 19 Holds, and two Sell ratings. government related to TikTok and appears to be expressing views independent of his role as an FCC commissioner.” Is Snap a Buy or Hold? A TikTok spokesperson said, “Commissioner Carr has no role in the confidential discussions with the U.S. consumer data outside of China, so there is no risk of data flowing back to the mainland. In its defense, TikTok has stated that it is storing U.S. Also, the Department of Justice (DOJ) is leading negotiations over a security deal. However, the CFIUS is probing the potential threat to national security from TikTok’s Chinese ownership. ”Ĭarr’s statements do not mention any pending litigation against TikTok or its Chinese owner, ByteDance. (CFIUS) should pursue a ban on the Chinese social media app.Ĭarr was heard saying that there isn’t, “a world in which you could come up with sufficient protection on the data that you could have sufficient confidence that it’s not finding its way back into the hands of the. Further, Carr even pressed the notion that the Council on Foreign Investment in the U.S. In an interview with Axios, Carr cited the risk of national data security and political interventions in the U.S. Snap ( NYSE:SNAP) jumped 7.5%, while Facebook, Instagram, and WhatsApp parent Meta Platforms ( NASDAQ:META) popped 4.6%. ![]() This news pushed American social media stocks higher. Brendan Carr of the Federal Communications Commission (FCC) hinted that there may be a possibility of a ban on the use of the Chinese app TikTok in the U.S. ![]()
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