back some of its shares, according to a report by the Wall Street Journal. TikTok is super popular, but it’s facing a possible ban in the U.S., which has a lot of people wondering what’s next for the app.
ByteDance’s Share Buyback Plan
ByteDance recently told its investors it wants to buy back shares at $180 each. A move like this usually means the company is confident about its future, even though it’s dealing with some big challenges right now.
Trump’s Surprising Support for TikTok
Some investors are feeling hopeful because Donald Trump might run for president again. Surprisingly, Trump recently said something positive about TikTok. In an interview in June, he said, “I’m for TikTok because you need competition. If you don’t have TikTok, you have Facebook and Instagram.”
This is a big shift from his earlier views. When Trump was president, he wanted to ban TikTok, saying it was a security risk. Now, it seems he thinks TikTok helps keep big companies like Facebook in check.
ByteDance Isn’t Backing Down
Even with all the U.S. concerns about TikTok and its connection to China, ByteDance is standing strong. By saying it’s worth $300 billion, the company is showing it believes it can handle whatever comes its way.
TikTok is one of the most popular apps in the world, and ByteDance seems determined to keep growing, no matter the challenges. Whether or not TikTok gets banned in the U.S., ByteDance is making it clear that it’s here to stay.\
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