Trump dump sends Meta spiralling downwards – www.cairnsnews.org

Trump dump sends Meta spiralling downwards – www.cairnsnews.org
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In 2021, then-President Donald Trump voiced his support for an all-out ban on the wildly popular social media app TikTok. 

TikTok has become very popular with young people, in particular, as it allows them to pump out new content rapidly in the form of brief and eye-catching video clips. 

However, using TikTok comes at a price, given that its parent company, Bytedance, is Chinese and has direct ties to the communist Chinese government. 

Moreover, TikTok allegedly has very invasive data tracking features, which many have suggested could create far-reaching national security problems.

Despite Donald Trump’s support for a TikTok ban in the past, it appears that Donald Trump has made an about-face.

Last week, Trump posted on Truth Social, saying, “If you get rid of TikTok, Facebook and Zuckerschmuck will double their business. I don’t want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!”

https://truthsocial.com/@realDonaldTrump/112058087970558736/

This post came just moments after lawmakers advanced a measure known as the “Protecting Americans From Foreign Adversary Controlled Applications Act,” which would give the Chinese-owned Bytedance company five months to sell TikTok if they hope to operate in the United States. 

As soon as Donald Trump made his post on Truth Social, Meta stock shares dipped sharply, closing at just under $515 a share last Friday and dipping down to just over $480 a share Monday morning. –Unmuzzled News

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