CNBC’s Jim Cramer discussed the uncertain future of TikTok, highlighting the contentious legal battle it faces, particularly as the Supreme Court prepares to hear its challenge against a potential ban. Cramer noted that the situation is complex, with the ban stemming from a bipartisan law signed by President Biden requiring TikTok’s Chinese parent company, ByteDance, to sell its business by January 19, 2024, or face a ban. TikTok claims such a ban violates First Amendment rights, while a federal appeals court upheld the proposed restrictions for national security reasons.
Cramer indicated that, despite the conservative majority in the Supreme Court, the outcome remains unpredictable, as historical stances on TikTok have varied among conservatives, including former President Trump, who has since softened his position. He emphasized that a TikTok ban could significantly reshape the social media landscape in the U.S., potentially benefiting competitors like Meta, while also impacting service providers like Oracle, which supports TikTok. Ultimately, he underscored the difficulty in predicting the case’s outcome, balancing First Amendment arguments against national security concerns that could sway the court’s decision.
