Investors in TikTok owner ByteDance are struggling to sell their shares in the secondary market, even at current asking prices valuing the company at around $240 billion, 20% below where ByteDance recently bought back stock, according to brokers and investors with knowledge of the matter. The price drop reflects a lack of investors interested in buying ByteDance shares amid uncertainty both about a possible ByteDance IPO and the future of TikTok, those people said.
U.S. lawmakers’ intense scrutiny of TikTok due to national security concerns, China’s economic slowdown and the volatility in the global stock market are all contributing to those uncertainties.
