The sale of TikTok to Oracle and Walmart is on hold indefinitely, pending President Joe Biden administration's review of related security matters, per a report from The Wall Street Journal.
This comes after former President Donald Trump took a hard line toward China, forcing a security review of the company and placing a Nov. 12 deadline by which TikTok's parent, ByteDance, had to divest its U.S. operations.
"We believe a Biden White House will take a much softer tone going forward in the eyes of the Street and potentially change the course of the decoupling path going on between the two powerhouse countries over the coming years," said Wedbush analyst Dan Ives.
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