TikTok BAN Could Be On Way

CEO gets grilled both BOTH parties on the Hill ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ I initially didn't think it would actually happen, but the mad lads on the Hill look like they are serious about banning TikTok. CEO Shou Zi Chew just got grilled by Congress... and it did not go well. It's generally a bad sign when BOTH political parties are eager to take you down a peg. "Welcome to the most bipartisan committee in Congress," said Rep. Buddy Carter, a Republican. Rep. Dan Crenshaw, another Republican, cracked that Tiktok was successful in "bringing Republicans and Democrats together." Still, it seemed like Republicans were the ones piling on. During one exchange, Rep. Neal Dunn (another Republican) asked if TikTok had "spied on American citizens." "I don't think that spying is the right way to describe it," said Shou Zi Chew. Rep. Bob Latta (a Republican from Ohio) pressed the CEO on whether employees at ByteDance, TikTok's owner, had access to Americans' user data. "Yes or no?" he asked. "It's not that complex. Yes or no? Do they have access to U.S. data?" Chew bobbed and weaved a few times. He avoided a full-throated condemnation of China's actions in the Xinjiang province and seemed to admit China had access to user data, at least up to some point. Now, it's very likely that what will actually happen is that ByteDance will be forced to sell to an American owner. But whether we get a full ban or a sale to someone based in the States, there will be a radical change when it comes to the online economy. TikTok is the most visited website in the world - and is increasingly outpacing Google when it comes to what people use to search information. Yesterday was a powerful reminder that investors ignore politics at their peril... and that even the best business plan can fall apart in the midst of of a public relations fiasco. Keep Moving, Corey Snyder Publisher, Rogue Investing PS. I beat the market by 600% last month, trading just one stock. Using my proprietary Dragnet, I nailed more than 250 winning trades in one year. You can harness this power today! [Click here to secure the next batch of trades.]( ) WORD ON THE STREET TikTok Grilled, Block Bombs, Ukraine Preps Attack - Both Parties Pile On TikTok - CEO Shou Zi Chew was grilled by members of both parties in Congress as the Biden Administration weighs banning TikTok. While Republicans were especially eager to attack the social media head, Democrats weren't exempt. "I've not been reassured by anything you've said so far and I think quite frankly your testimony has raised more questions for me than answers," said Rep. Lisa Blunt Rochester, a Democrat from Delaware. - Ukraine Reportedly Preparing Counterattack - Ukrainian commanders claim the Wagner Group is faltering in its attempts to take Bakhmut. "Very soon we will take advantage of this opportunity, as we once did near Kyiv, Kharkiv, Balakliya, and Kupiansk," said Colonel-General Oleksandr Syrskyi of the Ukrainian military. Ukrainian President Volodymyr Zelenskyy also spoke to members of the European Council, thanking them for their support - Banks Queue Up For Emergency Cash - Banks are still borrowing from the Federal Reserve at an elevated rate, a sign the unease in the sector is not going away. American financial institutions had $163.9 billion in outstanding borrowings last week - not much of a drop from $164.8 billion the previous week, when the panic hit. - Block Falls 15% - SQ was down almost 15% during the trading day, and kept falling after-hours, following shocking allegations from Hindenburg Research. "Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping," it said, accusing it of profiting off unbanked customers. HOT SPOTS: What's Going on in Geopolitics - Russia "Close" To Nuke Threat - NORTHCOM commander General Glen VanHerck said Russian Yasen-class nuclear submarines are being deployed more often, increasing the nuclear risk to the American homeland. "Now not only the Atlantic, but we also have them in the Pacific and it's just a matter of time - probably a year or two - before that's a persistent threat, 24 hours a day," he said. - China Opposes Forced TikTok Sale – The People's Republic of China is - get this - taking the side of the free market. It opposes the forced sale of TikTok over American concerns over foreign ownership. China said it would "firmly oppose" such a sale, claiming it would "seriously undermine the confidence of investors from various countries, including China, to invest in the United States." - China Opposes American Military Presence In The Philippines - China expressed its strong opposition to an expanded American military presence in the former colony of the Philippines. The Philippines pushed back, saying an American military presence was in its national interest, but an anonymous Filipino official told the AP that China expressed "intense objections." CUTTING EDGE: What[']( )s Happening In Tech - Tesla Expects To Lose Tax Credit On Model 3 - The batteries for Tesla's Model 3 Standard Range, its cheapest car, come from China. That's bad news for the TecnoKing and his realm, as it could cost the company a $7,500 tax credit on EVs by the end of this month. Tesla's other models are expected to retain the credit, as the battery cells are built in the United States. - Accenture Cuts 19,000 Jobs – The bloodbath in the tech industry continues. The IT and consulting company is slashing about 19,000 jobs, about 2.5% of its workforce. "Our results of operations are affected by economic conditions, including macroeconomic conditions, the overall inflationary environment and levels of business confidence," said Accenture in a filing with the SEC. - Utah Requires Parental Consent For Social Media - Governor Spencer Cox signed two laws restricting social media in a closely watched legislative campaign that could spread to other states. The laws require social media companies to verify the age of all residents who make an account and require parental consent for minors. It also restricts advertising to minors, bans gathering information on them, and imposes a social media "curfew" at night. "This is something that is killing our kids," said Governor Cox. FOR YOUR CONSIDERATION --------------------------------------------------------------- "You must choose the direction (if you are buying calls and puts) and when you expect the move to happen. Get in too early, and your option can bleed out while you wait." It's not just about having the right tools or the right instincts. Trading is, above all, about timing. What is the expected length of your trade... and what kind of trade are you trying to pull off anyway? Before you move in, know the answers to these questions. Chris Hood has the briefing you need. [RIGHT TRADE, WRONG TIME]( ) P.S. Some powerful research indicates that a Second Silicon Valley Bust is underway. It's time to take a look beyond the headlines - [find out what's really happening with the Silicon Shakeout by clicking here.]( ) Enjoying Dawn Report? Learn something, made some money? SHARE YOUR STORY WITH US OR TELL US HOW TO SERVE YOU BETTER. 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