01:15 PM EST, 03/05/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

A bipartisan House bill unveiled today aims to force ByteDance (TikTok's parent company) to divest the TikTok app or face a ban in the U.S. The proposed bill would give ByteDance more than five months after the law goes into effect to divest TikTok. If the company does not divest from TikTok, it would become illegal to distribute it through an app store or web hosting platform in the U.S., banning it even among current users. We note that a proposed bill last year never gained enough momentum to pass and we have our doubts about this bill gaining enough support from Democrats in a presidential election year given the popularity of the app. That said, we continue to believe that SNAP would be the best way to play such an event if it did gain steam (most potential upside to revenue), which is a more realistic assumption to make for 2025/2026, and we note that most U.S.-based short-form video offerings could see improving engagement levels (SNAP, META's Reels, and GOOGL's YouTube business, in that order).