Shares of U.S. social media companies Snap and Meta spiked on the news that a Federal Communications Commissioner said the U.S. government should ban TikTok.

“I don’t believe there is a path forward for anything other than a ban,” Republican Commissioner Brendan Carr told Axios in an interview.

Snap shares were up 6% and Meta shares were up 4% Tuesday afternoon.

The comments from Carr, one of four current commissioners at the Democrat-led agency, do not necessarily signal any pending actions against TikTok.

Read more: https://www.cnbc.com/2022/11/01/snap-meta-stocks-pop-after-fcc-commissioner-floats-us-tiktok-ban.html