Why Did Donald Trump Change His Mind About TikTok? 'Follow The Money' Says Rep. Nancy Pelosi
Portfolio Pulse from Chris Katje
Former President Donald Trump reversed his stance on banning TikTok, suggesting it would benefit Meta Platforms (META) and expressing a desire not to see Facebook prosper. This change follows the U.S. House's approval of a bill potentially banning TikTok. Trump's media company, set to merge with Digital World Acquisition Corp (DWAC), could benefit from a TikTok ban. Trump's reversal may also be influenced by his connection to Republican megadonor Jeff Yass, a significant ByteDance shareholder. Additionally, Trump's recent support for Anheuser-Busch (BUD) followed a similar pattern, raising questions about the motivations behind his public positions.
March 14, 2024 | 10:32 pm
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POSITIVE IMPACT
Trump's media company, merging with DWAC, could gain from a TikTok ban, positioning it as a social media alternative.
With Trump's media company set to merge with DWAC, a TikTok ban could remove a competitor, potentially benefiting DWAC as it expands into video.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Trump's criticism of a TikTok ban suggests a potential indirect benefit for Meta Platforms, as he believes it would double Facebook's business.
Trump's comments imply that a TikTok ban could drive users to Facebook, potentially boosting Meta Platforms' user base and engagement.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Trump's recent support for Anheuser-Busch (BUD) followed a pattern similar to his TikTok stance, raising questions about his motivations.
Trump's support for BUD, like his TikTok stance reversal, seems influenced by connections with major donors, though its direct impact on BUD's stock is less clear.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Trump's previous order for ByteDance to sell TikTok's U.S. arm could have benefited Oracle, co-founded by Trump donor Larry Ellison.
While Trump's past actions aimed at forcing ByteDance to divest TikTok's U.S. operations could have benefited Oracle, the current relevance to ORCL's stock is indirect and speculative.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 40