The Trump administration is expected to extend its September 17 deadline for ByteDance to divest the U.S. assets of its TikTok app or shut it down, David Shepardson and Jarrett Renshaw of Reuters reports, citing a source familiar with the matter. This would be the fourth reprieve granted by President Donald Trump from federal enforcement of a law that originally required ByteDance to sell or shut down TikTok by January 2025. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Tesla Shareholders to Decide on Elon Musk’s $1 Trillion Pay Deal
- Meta Platforms: AI Innovations Drive Stock Optimism
- Another High-Profile Exit: Apple’s (AAPL) AI and Search Leader Robby Walker Departs
- Trump Weekly: Trump signs pharma order, FTC opens inquiry into AI chatbots
- Mixed options sentiment in Meta Platforms Inc with shares down 0.14%