A majority of Brazilian judges on a Supreme Court panel voted to confirm an order to ban X, the platform formerly known as Twitter, in Brazil and fine those who don’t comply with it by using a VPN, Bloomberg’s Daniel Carvalho reports. X can still appeal the decision, after the conclusion of the hearing. The ban was issued after X owner Elon Musk defied several previous decisions, including refusing to name a legal representative for the social network in Brazil. Publicly traded companies in the social media space that compete with X include Meta Platforms (META), Alphabet (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Amazon Stock Price Dips Offer an Attractive Buying Opportunity
- StockTok: Zuckerberg details government pressure to censor COVID content
- Instagram reportedly exploring real-time integration of Spotify, Fortune says
- OpenAI Earns New Mammoth Valuation of Over $100B
- Meta planning new mixed reality glasses, The Information