Snap Rallies After Trump Administration Considers Ban of TikTok
- Peers would breathe ‘a big sigh of relief,’ analyst says
- The Snapchat parent has more than tripled since a March low
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Snap Inc. shares jumped on Wednesday, after President Donald Trump said his administration was considering a ban of TikTok, the latest indication the U.S. government might take steps against the short-video app.
The app has become enormously popular, especially with younger users, and analysts said banning it could reduce the competitive risk it poses to other social-media platforms. Rosenblatt Securities wrote that peer companies may breathe “a big sigh of relief” in the event it gets banned.