Categories
ramblings

WeChat Bonus Ban

The additional ban of WeChat is the more interesting portion of the order. WeChat is not as popular as Tik Tok on App Stores or even among internet users in United States generally. It’s ban looks like opening move more than endgame.

The Commerce Department order will “de-platform” the two apps in the U.S. and bar Apple Inc’s app store, Alphabet Inc’s Google Play and others from offering the apps on any platform “that can be reached from within the United States,” a senior Commerce official told Reuters.

The order will not ban U.S. companies from doing business on WeChat outside the United States, which will be welcome news to U.S. firms like Walmart and Starbucks that use WeChat’s embedded “mini-app” programs to facilitate transactions and engage consumers in China, officials said.

The order will not bar transactions with WeChat-owner Tencent Holdings’ other businesses, including its online gaming operations, and will not prohibit Apple, Google or others from offering TikTok or WeChat apps anywhere outside the United
States.

Source: CBC

Categories
markets-journal

Markets Journal 06/30/2020

Sorry for the missed updates, Markets Journal has gotten a bit boring so thinking of a new format or reducing posting frequency. If you have any ideas feel free to reach out via email, comments or Twitter.

  • Rad Kapital Top Movers:
    • ┬áTortoise Acquisition Corp SHLL: -13.82%
    • J2 Global JCOM: -9.05%
    • Tesla Motors TSL: +6.98%
  • Home Price Growth data from Standard & Poor’s:
  • Major Moves:
    • Thermo Fisher Scientific TMO reached an all time high at $361.60
    • InterActiveCorp IAC reached an all time high at $323.70
    • Match MTCH reached an all time high at $107.57
    • eBay EBAY reached an all time high at $52.40
    • Tesla Motors TSLA reached an all time high at $1037.85
    • Etsy ETSY reached an all time high at $105.32
    • Pinduoduo PDD reached an all time high at $90.15