Australia Bans Social Media For Under-16s, Imposes Potential $32M Fines On Meta, TikTok, And Snapchat

Image source: Photo by Gilles Lambert on Unsplash

Australia Bans Social Media for Under-16s, Imposes Potential $32M Fines on Meta, TikTok, and Snapchat. 📲 Australia’s new Social Media Minimum Age Bill bans children under 16 from using platforms like Instagram, Facebook, TikTok, and Snapchat. Meta, ByteDance (TikTok), and Snap could face hefty fines of up to $32 million (AUD 49.5 million) for violations. The law, passed Thursday, also exempts YouTube from the age restriction, marking a significant step in regulating social media access for minors. Benzinga reports.

💼 SoftAI: OpenAI gets new $1.5 billion investment from SoftBank, allowing employees to sell shares in a tender offer. CNBC reports.

⚙️ AITrust: Microsoft denies training AI models on user data. Reuters reports.

🔧 TariffImpact: Foxconn says global presence to shield it from Trump tariffs. Yahoo Finance reports.

📉 DemandDrop: Stellantis to halt production in Turin in December due to weak demand for Fiat 500 EV. Yahoo Finance reports.

🖥️ DellHPDownfall: HP, Dell's weak forecasts spark share selloff, doubts over PC market recovery. Reuters reports.

📲 MonopolyPlay: Google asks US appeals court to reject app store monopoly verdict. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $BSLK: Bolt Projects Holdings
Total gain: 247.97%

2. $PGHL: Primega Group Holdings
Total gain: 66.06%

3. $BMRA: Biomerica
Total gain: 47.12%

4. $EPRX: Eupraxia Pharmaceuticals
Total gain: 44.92%

5. $SOS: SOS
Total gain: 30.91%

Money Markets vs. Capital Markets: What's the Difference?

Money and capital markets are fundamental to the economy, serving investors and businesses alike. Money markets deal in short-term debt instruments, usually for one year or less. It's where governments, banks, and large corporations go to manage their immediate cash needs. Capital markets involve long-term securities, such as stocks and bonds, that mature in more than one year. This is where companies and governments raise funds for major projects and long-term growth.

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The closing price of the top three market percent gainers trading near or above $3 on November 27.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
Benzinga reports


1. $VCIG: VCI Global
Total gain: 130.16%
The company is pleased to announce that it has received a conditional Letter of Award valued at approximately US$24 million from Hexatoff Group for a proposed data center project in Enstek City, Malaysia. As part of the agreement, V-Gallant will provide advanced AI hardware and software solutions, including an AI computing system featuring 640 units of NVIDIA H200 Tensor Core GPUs. Benzinga reports.

2. $UMAC: Unusual Machines
Total gain: 82.46%
The company announced that Donald Trump Jr. has joined its advisory board. His appointment comes at a pivotal time for Unusual Machines, following the recent release of the Brave F7 FPV Flight Controller. This achievement highlights the company's commitment to onshoring U.S. drone component manufacturing. Benzinga reports.

3. $MOVE: Movano
Total gain: 50.69%
The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

MNSO: MINISO Group Holding
1Q 2025
Before Market Open
Estimate: 0.330
Actual: N/A

Time (ET) / Report / Period

None scheduled

“The greatest investment reward comes to those who research and reach decisions slowly, but act promptly.”

― Philip FisherSourced in:
“Common Stocks and Uncommon Profits”, by Philip Fisher, published in 1958