'TikTok is back': Trump teases future of social media app
Published On Jan 19, 2025, 6:52 PM
President-elect Trump has announced plans to restore TikTok's operations in the U.S. after a brief ban caused by national security concerns regarding its Chinese ownership. He intends to create a deal where the U.S. would hold a 50% stake in the app's operations, ensuring American control and continuity of the service. This move comes after the U.S. Supreme Court upheld a law that mandated TikTok's Chinese parent company ByteDance to sell its American operations. TikTok has since begun restoring its services in the U.S., expressing gratitude to Trump for preventing any shutdown.
Stock Forecasts
META
Positive
Given Trump's re-engagement with TikTok and the plans for a joint venture which could potentially stabilize its operations in the U.S., there may be positive sentiment in the tech market regarding social media companies with a presence in the sector. The assurance that TikTok can continue operating under a new structure is likely to enhance investor confidence in related stocks. However, given the political context and regulatory scrutiny, potential volatility remains.
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