Meta Platforms Inc Shares Rise

Shares of Meta Platforms Inc (NASDAQ:META) were up more than 3% at $628. The U.S. appeals court has decided not to 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.

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

Additionally, Snap Inc (NYSE:SNAP) also saw a jump of 3.5%.