Is Joe Biden Joining TikTok: How The Move Could Help With 2024 Election, Cause Controversy With Calls To Ban App
Portfolio Pulse from Chris Katje
President Joe Biden is considering joining TikTok to appeal to younger voters for the 2024 election, despite security concerns and calls to ban the app in the U.S. due to its Chinese ownership. Biden's campaign aims to combat his trailing position in polls against Donald Trump. Biden has also joined Truth Social, owned by Trump Media & Technology Group, which is merging with Digital World Acquisition Corporation (NASDAQ:DWAC). Additionally, Biden is active on other social media platforms, including those owned by Meta Platforms Inc (NASDAQ:META). Social media's role in elections is growing as more people consume news through these platforms.
November 17, 2023 | 9:54 pm
News sentiment analysis
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POSITIVE IMPACT
Digital World Acquisition Corporation is in the process of merging with Trump Media & Technology Group, which owns Truth Social, a platform Biden recently joined.
Biden's joining of Truth Social may bring additional attention to the platform and by extension to DWAC, which could positively influence investor sentiment in the short term due to the increased visibility and potential user growth.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Meta Platforms Inc, which owns Instagram and Facebook, is mentioned as part of Biden's active social media presence, with millions of followers on these platforms.
While Biden's presence on META's platforms is notable, the news does not directly impact the company's stock in the short term, as it is a continuation of existing usage patterns by political figures.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50