Skip to content
Technology

Snap Stock Surges as Push to Ban TikTok Gains Steam in US Congress

  • Snapchat owner’s shares rallied most in a month on Monday
  • The stock has underperformed those of peers over the past year
Snapchat Shares Jump On Strong Earnings Report
Photographer: Justin Sullivan/Getty Images
Updated on

Snap Inc. shares soared on Monday as lawmaker efforts to ban TikTok appeared to be gaining traction in the US.

The Snapchat owner rose 9.5% after US Senate Intelligence Committee Chairman Mark Warner told Fox News on Sunday that he plans to introduce a bill this week to allow the US to ban Chinese technology, including the social media service owned by ByteDance Ltd.