TikTok Agrees to a Sale: Report. Oracle Stock Jumps.
Market Intelligence Analysis
AI-PoweredOracle stock is rising in after-hours trading following a report that TikTok's U.S. operation has agreed to sell itself to a consortium of investors, including Oracle, in a joint venture.
Market impact analysis based on bullish sentiment with 77% confidence.
Article Context
Oracle stock was rising in after-hours trading on Thursday on a report that TikTok’s U.S. operation has signed an agreement to sell itself to a consortium of investors. TikTok’s U.S. operations will be run by a new joint venture named TikTok USDS Joint Venture LLC, according to a report from CNBC, which cited a memo sent to TikTok employees by CEO Shou Zi Chew. Chew also told employees in the memo that TikTok has signed agreements with managing investors Oracle, Silver Lake, and MGX.
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