The potential acquisition of TikTok's US operations by Elon Musk's X platform has stirred market interest, especially with a Supreme Court decision on a TikTok ban looming. Analysts from Wedbush suggest that ByteDance might sell the US operations, excluding its algorithm, for $40-$50 billion, which could significantly enhance the value of Musk's platform. This development comes amid tense US-China relations and a national security threat label from the US Justice Department. The political landscape is also in flux, with President Trump opposing the ban and seeking a political solution, which could impact the tech sector's dynamics.
The T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) experienced a decline, dropping 3.75% to $2.31 at 7:20 AM on Tuesday, January 14.