Last month, President Donald Trump ordered that TikTok sell its U.S. operations, which could be valued anywhere between $30 billion and $50 billion, amid concerns that its China-based owner ByteDance, as well as its data collection methods, posed a risk to national security.
Walmart and Microsoft were considered front-runners for the TikTok franchise, after the world's largest retailer joined the tech giant's pursuit in late August, just days after software group Oracle Corp. indicated it was also interested in the valuable American operations.
The Wall Street Journal, however, reported late Wednesday that ByteDance is negotiating a series of options with the U.S. government that could avoid a full sale, while Bloomberg reported Thursday that officials in China have insisted on pre-sale approval authority.
With a September 20 deadline looming, it appears unlikely that a deal will be completed, raising the prospect of either a nation-wide ban on TikTok's signature app or an extension beyond Presidential elections in early November.
Jim Cramer says that, with Oracle's earnings coming up, investors have to tune in and see if Oracle still says their interested to gauge where--if they're still ongoing--the talks are at.