US Court Ruling Sends Meta Stock Soaring
Meta Platforms shares surged to an all-time record high Friday on the heels of a US appeals court decision that could force TikTok to either sell off its operations or be banned in the US.
The decision upholds a law requiring China-based ByteDance to divest itself from TikTok, giving the Chinese company until early next year to complete the sale.
Meta Platforms, which owns Facebook and Instagram, has long been considered a major competitor for TikTok.
Meta shares closed at $625.37, a 2.7% increase.
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