Tesla Stock Surges On TikTok Rumors
Will Elon really buy TikTok?
Tesla stock surged as high as 6% amid speculation that CEO Elon Musk could potentially acquire TikTok, as reported by Yahoo Finance. The social media platform faces a looming nationwide ban in the United States unless it finds an American buyer, with Musk emerging as a leading candidate for the acquisition.
Impact Of TikTok Ban
The potential TikTok ban in the United States would have far-reaching consequences beyond just the app itself. Small businesses and content creators could face significant losses, with TikTok's CEO stating that 7 million American businesses rely on the platform, contributing over $24 billion to the U.S. economy. The ban would also affect major tech companies:
- Apple and Google have removed ByteDance apps from their stores to avoid potential fines.
- Microsoft and Oracle, as cloud service providers to TikTok, could experience notable revenue losses.
- Amazon's partnership enabling in-app purchases from TikTok could be jeopardized.
The ban raises concerns about free speech and public trust, the ban could set a troubling precedent for Internet fragmentation, undermining the principles of a globally connected, open, and secure Internet.
