The New York Times is reporting that Amazon is said to be making a bid to buy TikTok in the US.
TikTok has a Saturday deadline to change its ownership structure (which may have been extended. Trump wants control in the US and certainly does not want it shutdown).
Shares of Amazon are now up $2.05 or 1.07% at $194.30. It reached a new corrective below yesterday at $184.40. The 38.2% retracement of the move up from the 2023 low comes in at $180.98.
From the high price reached in February to the low price reached yesterday, the price has moved down 24%. That took the price to the lowest level since October 2024.
Amazon technicals
Meanwhile, Meta shares moved to a low $573.36, but have since rebounded back up to $584. At session lows, the price was down $-12.64. The current price is still down $-2.09 or -0.36% on the day. As session highs, the price was up $3.66 today at $589.66.
CNBC is reporting that a TikTok decision could come as soon as today.
