META, SNAP, PINS: Denmark Bans Social Media for Children Under Age 15

In a blow to companies such as Meta Platforms (META), Snap (SNAP), and Pinterest (PINS), Denmark’s government has banned access to social media for anyone under the age of 15.

The move, which has received broad political support in the Scandinavian country, sets the age limit for access to social media at 15 but gives parents the right to let their children use social media platforms and sites from the age of 13.

The age restriction announced by the Danish government is among the most sweeping and stringent yet on social media. The ban comes amid growing concerns about the use of social media among teens and young children, and its impact on their mental health and development.

Censorship?

Social media companies such as Meta Platforms, which runs popular platforms such as Facebook and Instagram, have likened bans on social media to censorship and critics say it amounts to government overreach and a stifling of content and free speech.

However, parents and children’s advocacy groups around the world have called for age restrictions such as the one imposed by Denmark, claiming that children are often bullied, harassed, and threatened on social media platforms, as well as exposed to inappropriate content for their age.

While other countries have debated age restrictions for social media platforms, few if any have gone so far as to institute such limitations based on a person’s age.

Is META Stock a Buy?

The stock of Meta Platforms has a consensus Strong Buy rating among 41 Wall Street analysts. That rating is based on 34 Buy, six Hold, and one Sell recommendations issued in the last three months. The average META price target of $843.56 implies 38.49% upside from current levels. 

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