White House calls for TikTok owner to sell stake or face U.S. ban, WSJ says

The Biden White House is calling for Beijing-based owner of TikTok, ByteDance, to sell its stakes or face a ban in its operations. The report indicates that the threat represents a major shift in the administration’s policy, which has been under fire from some Republicans suggesting that a tougher stance is needed to deal with the perceived security threat from TikTok. Shares of U.S. social media stocks are up on the report, with Snap (SNAP) rising 7.6%, Meta (META) up 2.2%, and Pinterest (PINS) up 1.9% afterhours. Reference Link