Oracle Corp (NYSE: ORCL) shares are moving higher in extended trading on Thursday after President Donald Trump signed an executive order to approve a deal to keep TikTok available in the U.S.
What To Know: Trump has officially signed an executive order to keep TikTok alive in the U.S. According to CNBC, Chinese President Xi Jinping signed off on the deal after initially pushing back.
The executive order comes after the U.S. government raised national security concerns about TikTok and forced parent company ByteDance to sell its U.S. operations or face a ban.
The report indicates that Oracle will be in charge of TikTok’s U.S. security operations. The company will also provide cloud computing services for TikTok. Trump said at the signing that Oracle Chairman Larry Ellison is “playing a very big part” in the deal, which also includes Rupert Murdoch and Dell Technologies Inc (NYSE: DELL) CEO Michael Dell. Dell shares were up about 0.75% in after-hours at last check.
“This is going to be American operated all the way,” Trump said.
Vice President JD Vance reportedly told reporters that the deal is valued at around $14 billion.
How To Buy ORCL Stock
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Oracle’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
ORCL Price Action: Oracle shares were up 1.38% in after-hours, trading at $295.35 at the time of publication on Thursday, according to Benzinga Pro. Oracle stock has gained approximately 75% year-to-date.
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