Walmart Shares Surge As It Will Team Up With Microsoft For TikTok Bid 

Walmart shares are surging Thursday morning following a new release via CNBC that states the mega-retailer is interested in teaming up with Microsoft to buy TikTok.

“The way Tik Tok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets,” the retailer said in a statement. “We believe a potential relationship with Tik Tok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses.  We are confident that a Walmart and Microsoft partnership would meet both the expectations of US Tik Tok users while satisfying the concerns of US government regulators.”

Walmart shares are up 2.3% to $133.70 on the TikTok headline.

Just another stock pump?