Meta shares up as TikTok faces ban after court ruling

Investing.com -- Shares ofMeta Platforms Inc (NASDAQ:META ) were up more than 3% at $628, as U.S. appeals court will not block a ban on TikTok unless its Chinese parent company divests the video-sharing app by a January 19 deadline.

A three-judge panel in Washington unanimously ruled that the law, aimed at safeguarding national security and user privacy, did not infringe on free speech rights under the Constitution's First Amendment.

The ruling leaves the Supreme Court as TikTok's last major recourse to prevent the law from taking effect.

Snap Inc (NYSE:SNAP ) also jumped 3.5% 

Source: Investing.com