According to reports from The New York Times, Amazon (AMZN.US) has submitted an offer to acquire TikTok just before the final deadline set for ByteDance. President Donald Trump has extended this deadline to April 5th (Saturday), although his recent statements suggest that he expects the acquisition to be completed earlier.
Due to concerns about access to data from U.S. users, ByteDance has been given an ultimatum requiring the company to sell the part of TikTok's platform operating in the U.S. If it does not do so by April 5th, a ban on the platform's operation in the United States will come into effect.
Today, Amazon joined the companies interested in acquiring TikTok (including Oracle, Rumble, and Perplexity AI) by submitting an offer in the form of a letter addressed to Vice President JD Vance and Commerce Secretary Howard Lutnick. However, according to internal reports, Amazon's offer is not being taken very seriously.
Amazon's stock has been in a strong downward trend since the beginning of February. Over the past three days, the company has been attempting to return to the growth seen at the end of March. In today's session, despite a bearish start, the stock has returned above yesterday's closing price and is currently trading around 2% higher. Source: xStation
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