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Facebook hits highs after launching Reels on Instagram to compete with TikTok

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The actions of Facebook closed more than 6% higher this Thursday after the launch of Reels, the new Instagram designed to compete with TikTok. And this Friday, they rebounded by almost 2% and set new highs at $ 278 due to the good forecasts of analysts.

It is a short-form video feature that allows users to create content with audio overlay and augmented reality effects, as they can already do in the Chinese social network.

For Facebook, TikTok has increasingly become a threat due to its growing popularity among American teens and young people. TikTok claims to have more than 100 million monthly active users in the US, assures a spokeswoman to CNBC.

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