TikTok has officially shut down in the United States. The social media app went dark after the US Supreme Court determined that national security concerns outweighed TikTok's First Amendment argument against a law that was signed in April 2024. ByteDance, TikTok's Chinese parent company, also had the option to divest its stake in the platform, but it chose not to despite there being interested buyers . Apple ( AAPL ) and Google ( GOOG ) removed TikTok from their U.S. App stores late on Saturday evening before the ban went into effect while Oracle ( ORCL ) began the process of shutting down their servers. President-elect Donald Trump told NBC News Saturday that he will “most likely” give TikTok a 90-day extension from a potential ban with an announcement likely to come Monday after he takes office. Meta ( META ), Snap ( SNAP ) and Reddit ( RDDT ) stand to benefit the most as users migrate off TikTok.

Yahoo Finance Senior Reporter Jennifer Schonberger reports the latest.

This post was written by Stephanie Mikulich and Justin Oliver.

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