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Barchart
Barchart
Aditya Raghunath

Should You Buy, Sell, or Hold Snap Stock Amid New EU Social Media Investigation?

SNAP Snapchat European Commission European Union Evan Spiegel Europe

Snap (SNAP) was already navigating a tough road back to profitability. Now it has a new problem sitting in Brussels, Belgium. The European Commission has opened formal proceedings to investigate whether Snapchat is meeting its obligations under the Digital Services Act (DSA), a sweeping European Union law designed to hold large platforms accountable for the safety of their users, especially children.

The investigation covers five areas: age verification, protection of minors from grooming and criminal recruitment, default account settings, the spread of information about illegal products, and the platform's handling of illegal content reports. The European Commission suspects Snapchat may be falling short on all five counts, according to a statement from authorities.

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