Kevin O'Leary Wants To Buy TikTok And Is Scouting For Investment: 'An Interesting Deal And I Like It'
Portfolio Pulse from Shanthi Rexaline
Kevin O'Leary expressed interest in purchasing TikTok amidst potential ban talks, aiming to transition it into an American-owned platform. He plans to bid $20-$30 billion, seeking investment from sovereign wealth and pension plans. O'Leary highlighted the challenge of acquiring TikTok without its algorithm due to Chinese government restrictions. He compared the situation to Twitter's valuation drop after its algorithm change. O'Leary emphasized the need for White House endorsement for the deal and plans to engage with both Trump and Biden's administrations. A TikTok ban could benefit Meta Platforms and Alphabet, with their Reels and YouTube Shorts services.
March 22, 2024 | 7:23 am
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The Communication Services Select Sector SPDR Fund (XLC) may see short-term impact due to potential TikTok acquisition talks and the broader implications for the communication services sector.
The Communication Services Select Sector SPDR Fund (XLC) includes companies that could be indirectly affected by the TikTok acquisition talks, especially if the deal influences the competitive landscape or regulatory environment for social media and communication services. The fund's performance could benefit from increased investor interest in the sector or from specific holdings that stand to gain from a TikTok ban or acquisition.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70