09:21:54 EDT Sat 18 May 2024
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Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,950,000
Close 2024-03-14 C$ 27.60
Market Cap C$ 164,220,000
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Globe says Meta, rivals hear clock is ticking on TikTok

2024-03-15 08:38 ET - In the News

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The Globe and Mail reports in its Friday, March 15, edition that by a 362-to-65 vote, the U.S. House of Representatives on Thursday voted to force TikTok's Chinese parent company, ByteDance, to either sell its interest or face a total ban in the U.S. The Globe's guest columnist Dave Sommer writes that the bill now goes to the Senate, where its future is more uncertain. Despite its fury at Big Tech, sometimes justified, Congress has always declined to make moves against Meta, X and others, putting free speech and free enterprise first. Increasingly, that view is held only by the minority. Mr. Sommer, however, calls it a rightly held view. One dissenter to this week's vote on TikTok, Republican representative Tom McClintock, said, "The answer to authoritarianism is not more authoritarianism." He now swims against a crushing tide. Donald Trump supported a TikTok ban while in office. This week, however, he flip-flopped, saying Meta was the actual "enemy of the people." Mr. Sommer says the TikTok bill has an uphill battle in the fiercely divided U.S. Senate. The campaign against the app has led to strange political allegiances, and it is not clear what its path forward will be. But events certainly do not bode well.

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