Meta Platforms Inc. reportedly stands to gain significantly if TikTok, a popular social media platform, is banned from US app stores this Sunday.
The high-profile names who could potentially buy TikTok following the Supreme Court's decision to uphold the law banning the platform in the US.
TikTok CEO Shou Chew is expected to join other tech executives Elon Musk, Mark Zuckerberg and Jeff Bezos at the inauguration for President-elect Trump.
Shou Zi Chew may be the CEO of Mark Zuckerberg’s biggest competitor, TikTok, but at the start of his career, he worked for Zuckerberg as an intern at Facebook.
TikTok's CEO is expected to attend president-elect Donald Trump's inauguration on Monday, according to multiple US media outlets, as some Democratic lawmakers and the incoming administration try to help the Chinese-owned app avert a ban in the US.
TikTok is set to be banned in the US on 19 January after the Supreme Court denied a last ditch legal bid from its Chinese owner, ByteDance. It found the law banning the social media platform did not violate the first amendment rights of TikTok and its 170 million users, as the companies argued.
YouTube and its Shorts platform should also gain from TikTok’s loss. According to Morgan Stanley managing director Brian Nowak, every 10% of the time users would have spent on TikTok that goes to YouTube would add $400 million to $750 million in ad revenue to the video platform’s sales.
Here is a preview of the pomp and circumstance that will unfold Monday when Donald Trump is sworn in as the 47th US president.
All this supports the idea of announcing a stock split, and that's why I predict Meta will be the next AI player to make such a move. And the good news is, even if it doesn't, Meta still represents a solid long-term buy-and-hold candidate for growth investors.
While Trump’s popularity with his political peers may be dwindling, the support from important tech-business leaders remains strong
With the Supreme Court and Biden administration declining to step in, and Trump not saying exactly what he'll do, TikTok appears poised to shut down on Jan. 19. Here's what we know.