TikTok ban may illustrate 'perfect comparison' of Biden, Trump

03/13/2024 22:14
TikTok ban may illustrate 'perfect comparison' of Biden, Trump

US House lawmakers are convening to vote on the bill that could strong-arm TikTok parent company ByteDance to sell the popular social media platform or face a ban in the United States. By the time of this video's publishing, House lawmakers voted 352 to 65 to pass the bill. CFRA Research Senior Equity Analyst Angelo Zino and 22V Research Senior Managing Director Kim Wallace talk about the broader implications if the bill goes through and how Senate leadership could be expected to vote on it. "It does have support from the White House, but we also need to... understand that if this eventually kind of fully goes through, there's also kind of legal aspects to it. So what I would tell investors out there is don't expect to necessarily get an outcome in a way to kind of play this necessarily overnight..." Zino says, cautioning on the long-term effects of a ban down the road into 2025. "We've heard from some leading Democrats who chair committees — Commerce and Intelligence — that they have reservations about some of the drafting of the bill," Wallace explains. "All points to a negotiation. Whether or not that's protracted... whether it's weeks, months, or longer, we're at the beginning of finding out." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.

US House lawmakers are convening to vote on the bill that could strong-arm TikTok parent company ByteDance to sell the popular social media platform or face a ban in the United States. By the time of this video's publishing, House lawmakers voted 352 to 65 to pass the bill.

CFRA Research Senior Equity Analyst Angelo Zino and 22V Research Senior Managing Director Kim Wallace talk about the broader implications if the bill goes through and how Senate leadership could be expected to vote on it.

"It does have support from the White House, but we also need to... understand that if this eventually kind of fully goes through, there's also kind of legal aspects to it. So what I would tell investors out there is don't expect to necessarily get an outcome in a way to kind of play this necessarily overnight..." Zino says, cautioning on the long-term effects of a ban down the road into 2025.

"We've heard from some leading Democrats who chair committees — Commerce and Intelligence — that they have reservations about some of the drafting of the bill," Wallace explains. "All points to a negotiation. Whether or not that's protracted... whether it's weeks, months, or longer, we're at the beginning of finding out."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

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