Shares of social network Snapchat (NYSE: SNAP) jumped 8.5% in the morning session after social media stocks rose ahead of the Supreme Court’s decision on the potential ban of TikTok in the United States. On January 19, 2025, a decision is expected to confirm if the social media platform owned by ByteDance would have to sell its TikTok assets, a move which could result in less competition for other players, including Snap.
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