After The Wall Street Journal speculated last night that the Committee of Foreign Investment in the U.S., or CFIUS, recently demanded TikTok parent Bytedance to sell its stake in the app or face a possible U.S. ban by the White House, Benchmark analyst Mark Zgutowicz said he is "skeptical this latest development is nothing more than tough talk by the current administration to appease pressures" from bipartisan bills in the Congress. The analyst, how sees "significant obstacles to a ban indirectly pointed at China" on both political and legal grounds, sees "a low probability" of any formal TikTok ban in the U.S. through 2024, adding that the firm sees "no ‘Goodbye TikTok’ party for Meta and Snap anytime soon."
Published first on TheFly
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