US Stock Movement | Oracle rises 5% as the company is reportedly involved in forming a consortium to maintain TikTok's operations in the US
On Tuesday, Oracle rose 5%, closing at $317.56. In terms of news, it was reported that Oracle is participating in a consortium attempting to maintain TikTok's operations in the U.S. under a possible framework agreement between China and the U.S. Reports citing informed sources indicate that the specific structure of the deal remains unclear, but it may involve a joint consortium of multiple companies, and the future involvement of TikTok's owner ByteDance is also uncertain. On Monday, it was reported that the Trump administration is expected to extend the deadline for ByteDance to divest TikTok's U.S. operations again. Previously, the U.S. government required ByteDance to complete the divestiture by September 17 of this year, or it would ban its operations in the U.S. If the related reports are true, this would be the fourth time Trump has granted TikTok a "grace period." Last month, Trump stated that he had found a U.S. buyer for the app and might further extend the deadline
According to Zhitong Finance APP, on Tuesday, Oracle (ORCL.US) rose by 5%, closing at $317.56. In terms of news, it has been reported that Oracle is participating in a consortium attempting to maintain TikTok's operations in the United States under a potential framework agreement between China and the U.S. Reports citing informed sources indicate that the specific structure of the deal remains unclear, but it may involve a joint consortium of multiple companies, and the future involvement of TikTok's owner, ByteDance, is also uncertain.
On Monday, reports indicated that the Trump administration is expected to extend the deadline for ByteDance to divest its U.S. operations of TikTok once again. Previously, the U.S. government required ByteDance to complete the divestiture by September 17 of this year, or it would ban its operations in the U.S. If the relevant reports are true, this would mark the fourth time Trump has granted TikTok a "grace period." Last month, Trump stated that he had identified a U.S. buyer for the app and might further extend the deadline
