The TikTok ban is closing in as the video-sharing platform’s parent company ByteDance expects to shut down services on Sunday. This comes after the U.S. Supreme Court maintained a law requiring the ban or sale of TikTok to protect U.S. user data from China.
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While many offers have been made and rumors circulate of potential buyers, ByteDance doesn’t appear ready to sell TikTok yet. Instead, the service will close on Sunday with reports claiming users will see a page linking them to details about the ban.
Can Anyone Save TikTok?
There’s been lots of talk about extending the ban deadline to allow ByteDance more time to find a buyer for TikTok. If that happens, it would see the video platform’s services continue during that time. However, it’s unclear how such an extension would be introduced.
One possible reprieve for ByteDance and TikTok comes from President-elect Donald Trump. He’s floated the possibility of using an executive order to delay the ban of the social media app. Trump will take office on Monday, one day after the TikTok ban goes into effect.
Trump changed his tune on TikTok after the platform helped him gain a following among young voters in 2024. Before that, he attempted to ban the app during his first term. Now he’s saving a seat for TikTok CEO Shou Zi Chew at his inauguration next week.
What Would a TikTok Ban Mean for the Stock Market?
If TikTok is banned in the U.S. it could bring traffic to the video platform’s rivals. Meta Platform’s (META) Facebook and Instagram, Alphabet’s (GOOGL) YouTube, and Snap’s (SNAP) Snapchat all offer short-form video services that compete with TikTok. Investors betting on the ban may be interested in a stake in these companies. A quick comparison below will help traders decide which stocks are worth investing in.
