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Wedbush analyst Dan Ives has previously suggested TikTok's global valuation could exceed $100 billion, potentially reaching $200 billion if its algorithm is included in the calculation.
This “ByeTesla” trend received much positive feedback on TikTok, with comments that voiced disapproval of Elon Musk and Tesla. “This makes my Elon-hating heart so happy,” one comment read.
Amazon has placed a bid on TikTok, as the April 5 deadline nears for a potential sale of the social media company. If a deal does not emerge, the popular app could face a nationwide ban.
A fair price for TikTok, Wedbush Securities Managing Director Dan Ives told TheWrap, would be a record-setting $300 billion. TikTok has said it has 170 million users in the U.S.
“We see no way that the TikTok algorithm is sold as Beijing and ByteDance would view this as a non-starter in a deal,” Wedbush Securities analyst Dan Ives wrote in a research note Tuesday.