Shares of various social media companies experienced a decrease in extended trading on Wednesday after the Washington Post reported that President-elect Donald Trump is contemplating issuing an executive order to prevent a ban on TikTok once he assumes office.

Following this news, a number of social media companies saw their shares fall.

Meta Platforms (NASDAQ: META ) experienced a 1.7% drop, Snap shares fell by 3.2%, Pinterest (NYSE: PINS ) saw a decrease of 0.7%, and Alphabet (NASDAQ: GOOGL )'s shares went down by 0.5%.